Categories: Business

NEOM firm signs credit facility deals with banks for green hydrogen plant


Mon, 2022-12-19 17:20

RIYADH: NEOM Green Hydrogen Co. has signed credit facility agreements with local, regional and international banks, along with the execution of a commitment letter with the Saudi Industrial Development Fund to build a green hydrogen-based ammonia production plant.  

To be located at $500-billion Giga-project NEOM, the plant will integrate up to 4 gigawatts of solar and wind energy to produce up to 1.2 million tons of green ammonia translating to up to 600 tons per day of carbon-free hydrogen, according to a press release.  

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