Air Products JV Signs MOU to Establish Facilities in Saudi Arabia
November 06 2019 - 6:48PM
Dow Jones News
By Stephen Nakrosis
Air Products & Chemicals Inc. (APD) on Wednesday said Air
Products Qudra signed a memorandum of understanding with the Royal
Commission for Jubail and Yanbu in Saudi Arabia to establish
facilities in the Kingdom.
Under the MOU, Air Products Qudra will "establish world-class
industrial gas production facilities and distribution networks in
the industrial cities of Royal Commission."
Projects will include establishment of a hydrogen fueling
economy, introducing new technologies to convert low-value
feedstocks into high-value products and establishing a helium
recovery network.
Dr. Samir Serhan, chairman of Air Products Qudra and EVP for Air
Products, said, "We have already started the plan to kick off our
Phase 1 investments to build world-scale industrial gas production
units and distribution networks in Jubail."
Air Products saidL "Air Products Qudra is a regional development
and investment joint venture between Air Products and Qudra Energy,
a subsidiary of Vision Invest, and in partnership with the Saudi
Arabian General Investment Authority."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 06, 2019 18:33 ET (23:33 GMT)
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