Dr. Samir Serhan, Chairman of Air Products Qudra and Executive Vice President for Air Products said, "The investment we are making in Jubail is a continuation of our (Air Products Qudra's) mission to bring world-class technology, on-site solutions, leading project execution and operational leadership for large-scale energy and environmental projects throughout the Middle East region. This megaproject again showcases the core strengths and capabilities we bring to support the creation of a world-leading downstream sector in Saudi Arabia."
Mohammad A. Abunayyan, Vice Chairman of Air Products Qudra and Chairman of Vision Invest and Qudra Energy, said, "With this investment, Air Products Qudra continues to demonstrate its commitment to the Kingdom of Saudi Arabia by being at the forefront of localizing cutting edge technologies to serve the energy needs of the Kingdom's Industrial Sector, in a sustainable manner. We at Qudra Energy are proud of our partnership with Air Products, and we look forward to this and other investments to be undertaken through Air Products Qudra in the near future."
When fully built out in 2023, the industrial gases hub will reliably serve the continued growth of Jubail Industrial City and support the growing prosperity of the Kingdom of Saudi Arabia and will enable Jubail to achieve higher values for off-gases and introduce new technologies to convert low-value feedstocks into high-value products.
The SMR hydrogen production plant to be built, owned and operated by Air Products Qudra, will match the largest ever built by Air Products. The SMR, which will serve refineries and petrochemical industries to fulfil the growing demand in the Eastern Region of Saudi Arabia, will feature the latest technology to maximize energy efficiency and reduce emissions, and include optimal heat integration to reduce and lower feedstock consumption. The plant configuration and deployed technologies will also contribute to Air Products' sustainability goals of reducing energy consumption and emissions.
The Jubail facility will include an ASU and PSAs and the location will serve as the pipeline hub for industrial gases to be supplied to individual customer connections in the region.
This investment includes building the second hydrogen fueling station in Saudi Arabia at the site. Saudi Aramco and Air Products inaugurated the first hydrogen fueling station in Saudi Arabia at Air Products' new Technology Center in the Dhahran Techno Valley Science Park in June 2019.
About Air Products Qudra
Air Products Qudra is a regional development and investment joint venture (JV) between Air Products and Qudra Energy, a subsidiary of Vision Invest. Air Products is a world-leading industrial gases company developing, engineering, building, owning and operating many of the world's largest industrial gas projects; Vision Invest is a leading development and investment Holding Company in the Kingdom of Saudi Arabia, with a diversified portfolio of investments across several sectors such as Utility, Infrastructure, Logistics and Industrial Gases with a global operational investment footprint.
Formed following several years of partnership between its parent companies, Air Products Qudra's mission is to bring world-class technology, on-site solutions, and leading project execution and operational leadership for large-scale energy and environmental projects throughout the Middle East region. For more information, visit airproductsqudra.com.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for nearly 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals.
The Company had fiscal 2019 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $55 billion. More than 17,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the company's Form 10K for its fiscal year ended September 30, 2019.
SOURCE Air Products
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© Press Release 2020