Egypt has approved the establishment of a special private free zone for Fujairah Alamein Oil and Gas Company in New Alamein, marking a significant step forward in a major oil and petroleum products storage and handling project aimed at strengthening the country’s position as a regional energy hub.
The Ministry of Investment and Foreign Trade announced that the company was formally established following Cabinet approval for a private free zone covering approximately 738,000 square metres in New Alamein, located in Matrouh Governorate. The project is designed to support the storage, handling and trading of crude oil and petroleum products, leveraging the city’s strategic location on the Mediterranean coast and its expanding infrastructure.
Minister of Investment and Foreign Trade Mohamed Farid said the initiative reflects Egypt’s efforts to utilize a range of investment mechanisms, including free zones, to accelerate the development of strategic projects, particularly in the energy sector. He noted that the ministry is working closely with the Ministry of Petroleum and Mineral Resources and other relevant authorities to finalize the remaining procedures required before construction and operations can begin.
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Strategy
The project represents the latest milestone in energy cooperation between Egypt and the Emirate of Fujairah. It builds on agreements signed in October 2025, including the creation of a joint venture to develop a logistics hub for the storage and trading of crude oil and petroleum products in Alamein, as well as plans to expand and modernize the El-Hamra Petroleum Port.
According to Egypt’s Ministry of Petroleum and Mineral Resources, the partnership forms part of a broader strategy to maximize the use of the country’s energy infrastructure and strategic geographic position, enhancing its role in regional and international energy trade. The new free zone also supports Egypt’s wider vision for New Alamein, which is being developed as a key destination for tourism, industry and investment, while attracting large-scale infrastructure and logistics projects that can contribute to economic growth and job creation.
