Aramco, Air Products, ACWA Power and Air Products Qudra signed and finalized definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit (ASU)/gasification/power joint venture (JV) in Jazan Economic City.
APD has a 50.6% total ownership (46% direct and 4.6% through Air Products Qudra) in the JV, which is purchasing the 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. Aramco will supply feedstock to the JV, and the JV will produce power, steam, hydrogen and other utilities for Aramco.View News Release
Air Products’ updated Capital Deployment Scorecard sees the company deploying or committing more than $30 billion of capital for the 10-year period from 2018-2027.Learn More