Saudi Arabia’s Alfanar to invest GBP 1bn in UK SAF project
Author: Gabriel Jorby.
Saudi Arabia’s Alfanar Group will invest GBP 1 billion (USD 1.3bn/EUR 1.2bn) in a sustainable aviation fuel (SAF) project on Teesside, UK Prime Minister Boris Johnson confirmed on Wednesday.
Alfanar will make the investment in its Lighthouse Green Fuels project, which previously secured about GBP 2.4 million as part of the UK government’s Green Fuels, Green Skies competition. The project will produce around 180 million litres (47.6 million gallons) of SAF and naphtha from household and commercial waste.
Great news that Alfanar Group is investing £1 billion in the Teesside Lighthouse Green Fuels Project, creating hundreds of jobs to produce sustainable aviation fuel from waste, with the potential to reduce emissions by 80% compared to their fossil fuel equivalent. https://t.co/VldABFoYue
Construction is expected to start in 2023 and to create more than 700 jobs. When completed, the plant is set to create 240 full-time positions.
“It also ties into our ambitions to make Teesside Airport the UK’s first hydrogen-ready airport, and an early adopter of these sustainable aviation fuels,” Tees Valley mayor Ben Houchen said in a statement, welcoming the news ahead of its confirmation during Boris Johnson’s visit to Saudi Arabia.
The visit came against the backdrop of Russia’s invasion of Ukraine. According to a UK government statement, the UK Prime Minister and Saudi Crown Prince Mohammed bin Salman agreed to collaborate to maintain stability in the energy market and continue the transition to renewable and clean technology.