Monday, 25 May 2026
Egypt refutes claims of land transfer to Qatari company in Sokhna
Egypt’s Cabinet has firmly denied recent rumors suggesting that the country relinquished land in Ain Sokhna to Qatari company "Al Manaa" without any financial or investment return for the state.
In an official statement, the General Authority for the Suez Canal Economic Zone (SCZone) clarified that all land within the Suez Canal Economic Zone—including industrial sites and facilities—is fully owned by the Egyptian state and remains under Egyptian sovereignty.
The statement explained that Al Manaa’s project to produce sustainable aviation fuel in Sokhna has been granted the land on a usufruct (right-to-use) basis, similar to other investment contracts in the zone. No ownership has been transferred. The $200 million mentioned refers only to the project's investment costs, not the value of land use rights.
Authorities also emphasized that the project will bring direct and indirect benefits to Egypt, including fees from land use, port operations, and administrative charges, as well as economic activities such as boosting local companies and creating thousands of jobs for Egyptians.
All tax and customs incentives offered to the project follow investment laws for special economic zones, applying broadly and not to any specific investor.
Moreover, the agreement between Al Manaa and Shell to purchase the project’s entire output was made prior to signing the contract and is based on comprehensive financial studies, ensuring that the project is economically viable.
Sokhna’s location—home to the Guinness World Record-holding, deepest man-made port basin—provides a crucial gateway to Africa and the Red Sea, and ensures efficient production and export logistics.
Egypt’s authorities urged the public not to listen to unfounded claims, warning that such misinformation can harm the country's significant investment projects.