Air Products Qudra is the development and investment company of Air Products in the Middle East with having Qudra Energy as the joint venture partner, a subsidiary of Vision Invest. Air Products Qudra is bringing world-leading technologies and global capabilities in Industrial Gases, Low-Carbon Hydrogen, and CCUS with leading the Energy transition.
Air Products Qudra is the leading sustainability partner in the Middle East, supporting countries to achieve their industrial and net-zero targets.
Asset acquisition and project financing transactions completed.
Air Products announced the completion of the asset acquisition and project financing transactions for the $12 billion air separation unit /gasification/power joint venture (JV) with Aramco, ACWA Power and Air Producs Qudra at Jazan, Saudi Arabia.
The JV has purchased ASUs, gasification, syngas cleanup, utilities and power assets from Aramco. The JV owns and operates the facility under a 25-year contract for a fixed monthly fee, with Aramco supplying feedstock to the JV, and the JV producing power, steam, hydrogen and other utilities for Aramco.
The JV serves Aramco’s Jazan Refinery, a megaproject to process 400,000 barrels per day of the crude oil to produce the main products such as ultra-light sulphur diesel, gasoline, and other products.