Developments indicate the project could head for financial close this year. Credit: MEED.

The imminent award of the civil works contract for the $5bn Helios Green Fuels project in Neom, Saudi Arabia, is expected to facilitate closing of the financial package for the project, according to an industry source.

The team developing the project is expected to sign offtake agreements and reach financial close on the project by the middle of this year, MEED reported in August.

Neom Green Hydrogen Company – comprising Neom, Saudi utilities developer Acwa Power and the US’ Air Products – is developing the facility, which will produce hydrogen to be synthesised into carbon-free ammonia for export exclusively by Air Products to global markets.

It is understood the team is evaluating bids and preparing to award the estimated $600m contract for completing construction works for the hydrogen and ammonia plants.

The companies that have submitted technical and commercial proposals for the contract include:

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See Also:

  • China Tianchen Engineering Corporation (China)
  • Consolidated Contractors Company (Lebanon)
  • Nasser S Al-Hajri Corporation (local)

Air Products, Acwa Power and Neom signed an agreement in July 2020 for the hydrogen-based ammonia production facility powered by renewable energy. The three companies will equally own the project.

It was announced that the planned facility will integrate 4GW of renewable power from solar, wind and storage; production of 650 tonnes a day of hydrogen by electrolysis, using ThyssenKrupp technology; production of nitrogen by air separation, using Air Products technology; and production of 1.2 million tonnes annually of green ammonia using Haldor Topsoe technology.

In June, US-headquartered Baker Hughes said it will supply Air Products with advanced compression technology for the project.

In December, Air Products awarded Germany’s Thyssenkrupp Uhde Chlorine Engineers a contract to supply a more than 2GW electrolysis plant for the project.

Under this contract, Thyssenkrupp will engineer, procure and fabricate the plant based on the firm’s 20MW alkaline water electrolysis module.

Engineering and procurement activities have been initiated, and the start of production is scheduled for 2026, Thyssenkrupp said on 13 December.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.