Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) have signed a land development (usufruct) agreement with Green Hydrogen and Chemicals Company (GHC) to develop Phase One of the green hydrogen and ammonia project in the Special Economic Zone at Duqm (SEZAD).
The agreement was signed by Dr Ali Masoud Al Sunaidy, Chairman of OPAZ and Manoj Upadhyay, Chairman and Founder, ACME Group. GHC is a joint venture between the UK entity of ACME Company and Norway-based Scatec ASA, said an Oman News Agency report.
As per the agreement, GHC will begin developing the first phase of the project over 12 sq km of land to produce 100,000 metric tonnes of green ammonia per annum in the Special Economic Zone at Duqm. Once fully developed, the project is expected to produce up to 1.2 million tonnes of green ammonia annually.
Eng Yahya Khamis Al Zedjali, In-Charge of Managing the Operations of the Special Economic Zone at Duqm, pointed out: “The Special Economic Zone and free zones in Oman will play a major role in the future of energy transition in Oman. The project will allow Duqm to become a hub for green hydrogen projects. Attracting such outstanding projects and investments to Duqm will thrive the promising clean energy sector in the Sultanate of Oman.”
Rajat Seksaria, CEO, ACME Group, said: “The signing of the usufruct agreement is an important milestone in setting up this green hydrogen and green ammonia project. We will start the construction activities soon and build one of the most advanced technologies and create a state-of-the-art facility. This project helps opening a new chapter of business cooperation between our countries – India, the UK and Oman. We extend our gratitude to the Sultanate of Oman for helping us contribute to the journey of innovation and transition to clean energy sources. We are also delighted to have Scatec as our JV partner in this exciting venture.”
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).