NGHC â NEOM City: Helios Green Fuels Project: Ammonia and Hydrogen Plants
NEOM Green Hydrogen Company(NGHC), an SPV formed by ACWA Power, NEOM, and Air Products is planning to undertake the development of ammonia and hydrogen plants at Helios Green Fuels Project in NEOM, Saudi Arabia.
The US$900 million project includes the following:
1. Construction of a green ammonia production plant with the capacity of 1.2 million tons per year
2. Construction of a hydrogen production plant with a capacity of 650 tons per day
3. Construction of nitrogen production unit by air separation
4. Construction of storage facilities
5. Installation of process heater systems
6. Infrastructure works
7. Construction of associated facilities
20 May 2022
A consortium of Saudi Arabiaâs Acwa Power and US-based Air Products has signed the $900m engineering, procurement and construction (EPC) contract for the planned green hydrogen and green ammonia project at Neom in Saudi Arabia
06 April 2022
Acwa Power has signed limited notice to proceed (LNTP) agreements for engineering, procurement and construction (EPC) contract for the project. The client is expecting to sign offtake agreements and reach the financial close by mid of 2022.
17 March 2022
The main contract bids are under evaluation and Euler Hermes has been appointed as the financer for the project.
18 January 2022
The main contract bids have been submitted by the following companies: China Tianchen Engineering Corporation, Consolidated Contractors Company and Nasser S Al-Hajri Corporation. (Source: MEED)
18 October 2021
The financial firm Lazard has been appointed as the financial advisor. The project is expected to reach financial closure and start construction in the first half of 2022.
02 December 2020
Air Products, ACWA Power and NEOM has signed an agreement for the development of the project. The project is expected to come on stream by 2025.