Neom achieves financial close at $8.4bn

World’s largest green hydrogen project supported by 30-year offtake deal with Air Products

Saudi Arabia’s flagship green hydrogen project at Oxagon in the Neom region has reached financial close with a final investment of $8.4bn in a major breakthrough for the sector. The project, which is a joint venture between US industrial gases company Air Products, Saudi government-affiliated Acwa Power and state developer Neom, is expected to produce up to 600t/d of green ammonia from the end of 2026, positioning it as the world’s largest of its type. Air Products will buy the plant’s entire output under an exclusive 30-year deal, which will see it export the product across its global network. “We are taking a massive leap towards opening the plant” Nasr, Neom “This substantial fina