Riyadh: Air Products has begun contacting local and international banks to request financing offers for a project to produce green hydrogen in Saudi Arabia's Neom, according to CNBC Arabia.
The U.S company has entered the Neom contracting market at a time of acceleration for projects in the city, which is considered one of the most prominent projects of the Saudi Vision 2030, which is part of the Kingdom's move to diversify the economy away from the hydrocarbon sector and oil dependent economy.
The project's financing structure will include debts of 80 percent while the percentage of financing from ownership is about 20 percent
The debt structure of the project will be divided equally between local banks and external financing institutions.
