Under a 50/50 joint venture, Linde and Sipchem said they intend to connect existing hydrogen and syngas plants owned and operated by the two parties in Jubail Industrial City.
“The main focus will be on the development of new production facilities in order to supply carbon monoxide, hydrogen, syngas, ammonia and associated gases alongside efficient solutions for the decarbonisation of downstream production in industrial clusters in the Kingdom,” a statement on the Saudi stock exchange said.
“The Strategic Joint Venture is expected to open the door to substantial investment opportunities of approximately $500m over the next five years subject to the economic viability,” it continued.