- Saudia Arabia’s ACWA Power signs a US$7bn contract with Omanoil and Air products to produce green hydrogen in Oman’s Salalah free zone.
ACWA Power and US-based Air products, Oman are progressing with plans to develop a hydrogen-based ammonia plant in Saudia Arabia.
The US$5bn hydrogen-based plant will be located at the planned US$500bn Neom development on the Red Sea coast of the kingdom, one of the kingdom’s Public Investment Fund (PIF’s) key megaprojects planned to diversify the country’s economy away from a dependence on oil.
The project will be powered by over 4GW of renewable energy and will produce 1.2 million tonnes of ammonia per year. In addition, the plant will produce 650 tonnes of hydrogen daily, Air Products revealed in a statement released on 7 July.
Air Products will be the off-taker for the produced green ammonia and will invest a further US$2bn in distribution. Production from the facility is due to begin in 2025.