Prime Highlights
- Mena region has 84 clean industrial projects worth around $642 billion.
- Final investment decisions for clean projects doubled in the past year.
Key Facts
- Egypt leads by project count with 25 projects worth $108.5 billion.
- Oman holds the largest pipeline value at $271 billion across 19 projects.
Background
The Middle East and North Africa region is becoming a major global hub for clean industrial investment, with 84 announced projects representing around $642 billion in potential spending across clean fuels, fertilisers, steel and aluminium, according to a report by Mission Possible Partnership and the Industrial Transition Accelerator.
The report, titled Clean Industry Rising: the foundation of resilient value chains, points to growing momentum in global clean industrial financing, with 19 projects worth $43 billion reaching final investment judgments in the last six months, which is twice as fast as it was a year ago. It noted that clean production is expanding quickly in energy-intensive sectors such as aviation fuels, shipping fuels and metals, amid rising energy volatility and shifting trade patterns.
Within the region, countries are taking on different roles. Egypt leads by project count with 25 projects worth $108.5 billion, concentrated around the Suez Canal Economic Zone, the Gulf of Suez and Damietta. Oman has the highest committed pipeline of $271 billion from 19 projects, one of which includes green ammonia production in Duqm, which has already made its final investment decision.
The green hydrogen production initiative in the Kingdom of Saudi Arabia, referred to as Neom green hydrogen, has been recognized as among the flagship ammonia producers with a total capacity of 1.2 million tons. The UAE has launched sustainable aviation fuel projects in Abu Dhabi and Fujairah.
Sustainable aviation fuel, along with clean fuels such as green ammonia, is one of the region’s early success stories. The region’s location and infrastructure also position it as a key exporter of clean commodities through major trade routes such as the Suez Canal.
The clean sector is expanding, according to Faustine Delasalle, CEO of Mission Possible Partnership, as nations look for more control over food, energy, minerals, and industrial goods in the face of global instability. James Schofield of the Industrial Transition Accelerator said supportive policy and clean trade partnerships could help sustain this momentum.
