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Eye of Riyadh
Business & Money | Monday 23 May, 2022 3:56 am |
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South Korean firms to sign agreement for green hydrogen project in Abu Dhabi

Two South Korean firms are set to sign a joint development agreement to advance a major green hydrogen project in Abu Dhabi. Additionally, the UAE’s Etihad Rail has received bids for a planned high-speed rail project connecting Abu Dhabi and Dubai. Also, UAE’s Dubal Holding is partnering with Canada’s Nature Alu to launch a high-purity aluminum plant in the UAE. Meanwhile, Qatar Energy is undertaking clarification discussions with bidders regarding two solar power plants it intends to build.

 

·      South Korean electric power distribution firm Kepco and South Korean construction company Samsung C&T are expected to sign a joint development agreement later this month to propel the first phase of the 3.7 billion dirhams ($1 billion) green hydrogen-based ammonia production facility to be located in Khalifa Industrial Zone Abu Dhabi. This comes after the technical study and land lease agreements were completed in March, MEED reported. 

 

·      The UAE’s national railway network, Etihad Rail has received bids for a contract to offer preliminary consultancy services for a high-speed rail project, MEED reported. The project aims to develop a high-speed rail line linking Abu Dhabi and Dubai. The bidders include the US engineering company Aecom, French construction engineering firm Egis, among others. In addition to this, Etihad Rail is also contemplating two more lines: one that joins Abu Dhabi with Al-Ain and another connecting Dubai and Sharjah.

 

·      The UAE-based investment company, Dubal Holding and Canadian aluminum supplier Nature Alu have signed a memorandum of understanding to launch the UAE’s first of its kind high-purity aluminum production plant, MEED reported. Under the collaboration, both parties will team up to develop the scope of work for the feasibility study with a special focus on technical, commercial, operational, and regulatory details. 

 

·      State-owned petroleum firm Qatar Energy is set to be undergoing clarification discussions with bidders for the contract to design and construct two solar photovoltaic power projects in the Gulf country. To be located in Ras Laffan and Mesaieed respectively, each solar power plant will have a capacity accumulating to 400 MW, MEED reported, citing industry sources.

 

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