Saudi Arabia’s Sahara International Petrochemical Co. (Sipchem) announced in a statement that it has signed joint venture agreement with Ireland’s Linde GMBH for developing Industrial Gasses projects and networks in the Kingdom of Saudi Arabia.
As per the statement, the joint venture intends to build up a world-class industrial gases network in Jubail Industrial City by connecting via pipeline the existing hydrogen and syngas plants owned and operated by the two parties.
The main focus will be on the development of new production facilities in order to supply carbon monoxide, hydrogen, syngas ammonia, and associated gases alongside efficient solutions for the decarbonization of downstream production in industrial clusters in the Kingdom.
The Strategic Joint Venture is expected to open the door to substantial investment opportunities of approximately $500 million over the next five years subject to the economic viability.
The partnership agreement will be for 20 years and will have 50/50 ownership in the projects.
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