Friday, 03 December 2021 04:56 GMT

NEOM’s hydrogen factory’s construction probable to rollout in first half of 2022

(MENAFN) Saudi power firm ACWA Power predicts building and construction on its environmental hydrogen factory in NEOM to begin in the initial six months of the coming year, as mentioned by the firm’s CEO.

Paddy Padmanathan stated to Arab News in a meeting, “This is the first project of that scale and quite a lot of work had to be done for the first time. So, we are very much in it, and we are already in even doing some work in advance purchases of long lead items for construction. So, there is quite a lot of activity that is going on.”

The CEO of ACWA predicted to additionally witness the financial conclusion of the scheme, a shared project with NEOM Co. and American industrial gas firm Air Products, happening in the H1 of 2022. The shared project had employed financial company Lazard to counsel on the venture, he said to Arab News in September.

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