$12 Billion ASU/Gasification/Power Joint Venture at Jazan, Saudi Arabia
Financial close and transfer of second group of assets completed.
Air Products announced financial close and transfer of the second group of assets for the $12 billion gasification and power joint venture (JV) with Aramco, ACWA Power and Air Products Qudra in the Jazan Economic City (“Jazan”), Saudi Arabia.
The JV’s purchase of this second group of assets at Jazan follows the successful asset acquisition and project financing transactions for the first group of assets completed in late October 2021.
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.
Air Products Qudra CEO Named Chair of AmCham Saudi Arabia Energy Committee
The American Chamber of Commerce (AmCham) Saudi Arabia launched its new Energy Committee in the Eastern Province at the U.S. Consulate General in Dhahran. The Energy Committee, chaired by Air Products Qudra CEO Ebubekir Koyuncu, includes American businesses in the energy sector who are committed to promoting awareness and sharing best practices as Saudi Arabia strives to achieve green energy objectives under Vision 2030.
The AmCham Saudi Arabia Energy Committee is sponsored by Air Products Qudra, whose mission is to bring world-class technology, on-site solutions, and operational leadership for large-scale energy and environmental projects throughout the Middle East.