NGHC - NEOM City: Oxagon: Southern Cluster - Green Fuels Plant
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$1200 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 ammonia storage tank (2 Nos.) (Height-40m & Diameter-76m)
5. Installation of process heater systems
6. Infrastructure works
7. Construction of associated facilities
Second Section
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27 February 2024
The Construction works are ongoing on the project and are expected to be completed by the end of 2026.
13 November 2023
Construction works are progressing and are expected to be completed by the end of 2026.
07 July 2023
The construction works are progressing and is expected to be completed by 2026.
05 July 2023
Air Products has appointed Longitude Engineering to provide engineering support for the export jetty. (Source: MEED)
07 June 2023
Financial closure has been achieved on the project. National Infrastructure Fund (NIF), Saudi Industrial Development Fund (SIDF) and other leading financial institutions have invested in the project.
13 March 2023
Consolidated Contractors Company (CCC) is working as civil subcontractor. The construction works will be ongoing after having reached financial closure on the project. (Source: MEED)
02 March 2023
The green hydrogen project has received financing comprising of $5.85bn of senior debt and $475m of mezzanine debt facilities. (Source: MEED)
16 February 2023
The project is expecting full financial close for the green hydrogen project. (Source: MEED)
09 February 2023
Engineering works have progressed up to 30 per cent, all major subcontracts have been awarded, land preparation is complete and construction works are ongoing on the project.
03 February 2023
The Ministry of Industry and Mineral Resources has issued the first license in Oxagon to the NEOM Green Hydrogen Company for the green hydrogen plant.
21 December 2022
The client has signed the facility development agreements with local, regional and international banks and also announced the execution of a commitment letter with the Saudi Industrial Development Fund (SIDF). (Source: MEED)
14 December 2022
The project is expected to reach financial investment decision (FID) by end of 2022. (Source: MEED)
30 November 2022
Alfa Laval is awarded a supply heat exchangers contract for NEOM green hydrogen plant. Construction works are ongoing and expected to be completed by 2026. (Source: MEED)
29 September 2022
The project is expected to reach financial closure by September-October 2022, over 22 banks are participating in providing senior debt for the US$6.5 billion integrated green hydrogen and ammonia facility in Neom. The bank participating are namely: 1. Al-Rajhi Bank (local), 2. Alinma Bank (local), 3. Apicorp (Saudi Arabia), 4. Banque Saudi Fransi (BSF), 5. BNP Paribas (France), 6. Credit Agricole (France), 7. DZ Bank (Germany), 8. First Abu Dhabi Bank (UAE), 9. HSBC (UK), 10. KfW (Germany), 11. Korea Development Bank (South Korea), 12. JP Morgan (US), 13. MUFG Bank (Japan), 14. Mizuho Bank (Japan), 15. Natixis (France), 16. Norinchukin (Japan), 17. Riyad Bank (local), 18. Santander (US/Spain), 19. Saudi National Bank (local), 20. Standard Chartered Bank (UK), 21. Sumitomo Mitsui Banking Corporation (Japan), 22. Abu Dhabi Commercial Bank (UAE). (Source: MEED)
21 September 2022
Construction works are underway and the first production is estimated in 2026.
04 July 2022
Air Products has awarded the contract of providing engineering support on the project to Longitude. The scope of work includes engineering review of FEED design, pre-EPC risk review to minimize cost, schedule, and safety risks, EPC tendering support, EPC tender review, and support during detailed design and construction of the export jetty. The contract duration is between 2021 and 2024.
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.