Saudi Arabia’s giga project NEOM will start produce 650 tonnes per day of green hydrogen in 2026, the CEO of NEOM Industrial City (OXAGON) said at the Saudi International Iron and Steel Conference in Riyadh.

A Saudi Press Agency report quoted Vishal Wanchoo as saying that the green hydrogen would be used in industries to make green steel and cement.

In July 2020, ACWA Power had signed an greement with NEOM and Air Products for a $5 billion venture to produce 650 tonnes per day of green hydrogen powered by renewable energy.

Wanchoo said OXAGON will be one of the most advanced logistics centres in the world in tandem with its location on the Red Sea, where 13 percent of world trade passes.

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(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)