Saudi Arabian Refineries Company has announced that its key subsidiary, Clean Energy Company, has entered into a non-binding MoU with British renewable energy company AGR to support the development of a green ammonia value chain in the Kingdom of Saudi Arabia.
As per the deal, AGR Renewable Energy aims to purchase 100% of the production output from the proposed green ammonia plant to be developed by the company at Jazan Industrial City.
The announcement comes following an earlier disclosure from Saudi Arabian Refineries Company regarding its plans to establish a green ammonia production facility.
The agreement reflects both parties’ shared commitment to advancing clean energy solutions and supporting the global transition toward low-carbon fuels, said the company in a statement.
The MoU will come into effect from the date of execution and will remain valid for a period of six calendar months, unless extended by mutual written agreement.
As the arrangement is non-binding, the company said the signing of the MoU is unlikely to have any financial impact in the short or medium term.-TradeArabia News Service
