Egypt has formally finalized the establishment of Fujairah Alamein Oil and Gas Company, following official approval for a dedicated private free zone for the joint Egyptian-Emirati venture in the Mediterranean coastal city of New Alamein, Egypt’s Ministry of Investment and Foreign Trade announced in an official statement.
Spanning roughly 738,000 square meters in the North African Mediterranean coastal hub, the newly approved free zone will purpose-built facilities dedicated to the storage, handling and logistics of crude oil and refined petroleum products. The project traces its origins back to three framework agreements signed in 2025 between Egyptian government bodies and the Emirate of Fujairah, which also outlined parallel plans to develop the Fujairah-Alamein energy logistics zone and carry out expansion and modernization upgrades at El-Hamra Port, located west of Alexandria.
Egyptian Investment and Foreign Trade Minister Mohamed Farid emphasized that the rapid completion of the company’s founding process offers clear proof of the government’s ability to translate formal regulatory approvals into fully operational investment projects in a compressed timeline. Farid noted that leveraging flexible investment frameworks, including the free zone model, paired with streamlined cross-ministerial coordination, is a core strategy to speed up delivery of critical national energy projects. He added that the investment ministry is continuing close collaboration with other state agencies, most notably the Ministry of Petroleum and Mineral Resources, to resolve outstanding requirements and clear any regulatory or bureaucratic barriers that could risk delaying project implementation.
The Egyptian cabinet first granted formal approval for the special private free zone for the joint venture last year, locating the site in New Alamein within Egypt’s northwestern Matrouh Governorate. Per the official cabinet decree published in Egypt’s official government gazette, the free zone sits on the southern flank of the Alexandria-Matrouh coastal highway and falls under the regulatory supervision of the General Authority for Investment and Free Zones.
The decree outlines a series of binding requirements for the new enterprise: all annual output from the facility must be exported to global markets, and at least 50% of all components used in any on-site manufacturing activity must be sourced from domestic Egyptian suppliers. Additional mandatory conditions include proof of legal ownership or long-term tenure for the project site, formal environmental clearance from the Egyptian Environmental Affairs Agency, strict compliance with physical security standards (including full coverage surveillance camera systems and dedicated security watchtowers), and full alignment with national industrial safety, civil defense and fire protection regulations.
This new energy project aligns with Egypt’s long-term strategic goal to leverage its geographic location between major European, Asian and African energy markets, its extensive network of coastal ports, and established regional transport links to position the country as a leading regional hub for energy product storage, processing and cross-border trade. The push to attract foreign direct investment in the energy sector also comes as Egypt navigates ongoing economic pressures, including constrained foreign currency reserves and shifting domestic energy supply dynamics, as the government works to expand export volumes and generate much-needed hard currency.
Recent official trade data underscores the growth trajectory of Egypt’s energy export sector: in April 2026, the country’s crude oil exports hit $115.3 million, marking a $15.6 million year-over-year increase, while exports of refined petroleum products rose by $181 million year-over-year to reach $585.2 million. As part of a national five-year energy development plan, the Egyptian government has set a target of 20% growth in domestic oil and gas exploration and production activity for 2026, while simultaneously expanding the country’s capacity to process and export refined petroleum products.
New Alamein, a planned coastal development on Egypt’s Mediterranean shore, has emerged as a key focal point for the government’s push to draw private domestic and international investment to the region. Current announced projects for the city include a $140 million metallic silicon production complex, an $82 million furniture manufacturing free zone, and a 12 billion Egyptian pound ($236 million) green industrial complex. Official government data puts total public and private investment in New Alamein at 240 billion Egyptian pounds as of 2024.
The Fujairah Alamein project also forms part of a broader wave of growing Emirati investment in Egypt under the administration of President Abdel Fattah el-Sisi, highlighted by the landmark $35 billion Ras El-Hekma coastal development agreement announced in 2024, one of the largest foreign investment deals in Egypt’s recent history.
In closing remarks, Minister Farid reaffirmed that the Ministry of Investment will maintain ongoing coordinated work with all relevant state authorities to ensure Fujairah Alamein Oil and Gas Company can launch commercial operations as quickly as possible, meet its stated investment commitments, and deliver maximum positive impact to the Egyptian national economy.