New alamein: Prime Minister Moustafa Madbouly affirmed on September 1, 2026, the attention that President Abdel Fattah El-Sisi is giving to the establishment of the Fujairah Alamein Oil and Gas Company, highlighting it as a promising strategic project. The completion of procedures for establishing the company and holding its inaugural general assembly meeting at the Al-Hamra Petroleum Port aligns with the strategic relations between Egypt and the UAE.
According to State Information Service Egypt, Madbouly made these remarks during a meeting at the government headquarters in the New Capital with the Director of the Fujairah Amiri Diwan, Mohammed Saeed al Dhanhani. The meeting aimed to follow up on the steps required to complete the project's implementation after establishing the Fujairah Alamein Oil and Gas Company. The meeting was attended by Petroleum and Mineral Resources Minister Karim Badawi.
Madbouly emphasized the project's importance in the energy sector and the need to accelerate efforts to establish a special free zone under the name 'Fujairah Alamein Oil and Gas Company' in New Alamein City. This company will engage in the storage and trading of petroleum products and crude oil, with the aim of enhancing mutual interests and reflecting the strong relations between Egypt and the UAE.
Dhanhani expressed gratitude towards Madbouly and the Egyptian government, especially the Ministry of Petroleum and Mineral Resources, for supporting the project's establishment. He reiterated Sheikh Hamad bin Mohammed Al Sharqi's commitment to strengthening cooperation with Egypt and expediting the project's implementation.
The meeting reviewed the project's implementation steps, which are part of enhancing Egypt's role as a regional hub for energy trading. The project aims to develop Al-Hamra Port through cooperation with the Fujairah Oil and Gas Corporation, transferring expertise, and applying the latest technologies to improve the port's efficiency to international standards.
The initiative also involves using storage facilities at Al-Hamra Petroleum Port in New Alamein for crude oil storage, maximizing economic benefits from Egypt's infrastructure, and leveraging the port's unique location to make it a strategic hub for crude oil storage and transportation.
Minister Badawi highlighted the project's significance and the substantial government support from both Egypt and the UAE. He underlined that joint teams are working in coordination to complete the necessary procedures and establish a timetable for implementation stages, ensuring the project's success and overcoming any challenges during execution.