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Jazan, Saudi Arabia

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$12 Billion ASU/Gasification/Power Joint Venture at Jazan, Saudi Arabia

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.

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