A major green hydrogen project planned for development in the south of the Sultanate of Oman is anticipated to draw in foreign direct investments to the tune of around $6.5 billion.
H2Oman is backed by a consortium comprising leading Saudi-based global energy and water services group ACWA Power, OQ Group of the Sultanate of Oman, and US headquartered industrial gases giant Air Products.
Envisioned for development in Dhofar Governorate, the project will generate around 1.1 million tonnes of green ammonia per annum based on 3 GW of solar and wind-based renewables capacity, and 2 GW of electrolyser capacity. Battery storage will be an integral part of the project as well.
Significantly, H2Oman will also benefit from a similar-sized green hydrogen scheme planned by two of the key consortium partners at NEOM, a futuristic city under construction in the northwestern part of Saudi Arabia.
Additionally, H2Oman is projected to pull in around $6.5 billion in foreign direct investments over the life of the project, the Project Lead noted, adding that the ICV component will be attractive as well.
Furthermore, as many as 15,000 jobs will be created during the construction phase, in addition to around 330 jobs when H2Oman is operational.
Tags: FDI, Gree Hydrogen, H2Oman
Recent Posts
Vedanta Aluminium signs pact with GAIL for supply of natural gas
HMM introduces South Korea’s first LNG-powered vessels
NGEL inks pact with NREDCAP in Andhra for RE projects
Global warming won’t end if net zero is redefined
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India