Doha, April 29 (QNA) - QNB Egypt, a subsidiary of QNB Group, has announced its participation as a lender in the landmark financing of Sustainable Aviation Fuel (SAF) production facility in Egypt, supporting one of the region's most significant sustainable infrastructure projects.

The agreement was signed by CEO of QNB Egypt Mohamed Bedeir during an official ceremony. The project, led by Green Sky Capital, is expected to become one of the largest SAF production facilities in the Middle East and Africa.

CEO OF QNB Group Abdulla Mubarak Al Khalifa said the financing reflects "QNB's commitment to backing projects that deliver both economic value and long-term sustainability outcomes across the region". He added that investments in innovative, technology-led solutions is a core part of the Group's strategy.

Sustainable aviation fuel is seen as a key component in efforts to reduce carbon emissions from the aviation sector, which remains one of the more difficult industries to decarbonize. The project is expected to position the region as an emerging player in this growing market.

Located near the Suez Canal, the facility is intended to strengthen regional energy security while enhancing its role in global sustainable fuel supply chains. Once operational, it is projected to produce up to 200,000 tonnes of biofuel annually, potentially reducing carbon dioxide emissions by as much as 500,000 tonnes each year.

Commercial operations are expected to begin by the end of 2027. According to industry estimates, the plant could contribute more than 10% of current global sustainable aviation fuel output. (QNA)