Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI), recently met with executives from Borna, a Canadian company specializing in gas processing and carbon capture, to discuss introducing the firm’s advanced technologies to Egypt.
The discussions focused on localizing Borna’s solutions to support Egypt’s transition to a low-carbon energy future.
Borna CEO Sam Salimi announced a $40 million investment plan to establish a facility in Egypt that will recover flared gas from oil production sites.
The plant will extract propane, butane, and methane from emissions and reintegrate them into the national grid.
It will also feature integrated carbon capture systems, enabling Egyptian companies to participate in the government’s voluntary carbon credit market.
Salimi emphasized that the project will reduce energy imports, lower emissions, and create local jobs. He also noted strong backing from Canadian government agencies and financial institutions.
Heiba outlined the advantages of Egypt’s private free zones, which include tax incentives, streamlined licensing processes, affordable land, and the ability to operate near oil sites outside public industrial zones.
He further emphasized that the plant’s clean technology output will support Egypt’s compliance with international climate standards, such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), which incentivizes low-emission exports.
The partnership reflects Egypt’s commitment to attracting green investment and establishing itself as a regional leader in sustainable energy.
