Indian multinational conglomerate Larsen & Toubro (L&T) has secured a major engineering, procurement, and construction (EPC) contract from Saudi Arabia’s NEOM to work on the world’s largest green hydrogen project. The contract was signed between NEOM Green Hydrogen Company (NGHC) — an equal joint venture created by ACWA Power, Air Products, and NEOM — its EPC contractor and system integrator Air Products, (and joint venture partner), and sub-EPC construction partner L&T, NGHC announced.
Saudi NEOM signed facility agreements with domestic, foreign, and regional banks last week to finance the development of the biggest green hydrogen production facility in the world. The finance agreement was signed together with a commitment letter with the Saudi Industrial Development Fund (SIDF), and the National Infrastructure Fund contributed significantly (NIF). The facility will be located in NEOM once it is completed. In July 2020, NEOM signed a $5bn agreement with Air Products and ACWA Power for the green hydrogen facility.
Read the full story at Construction Week