Search Site

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Helios to set up $1bn green ammonia plant in Abu Dhabi

    • The plant will produce 200,000 tonnes of green ammonia, expected to reduce CO2 emission by 600,000 tonnes annually
    • An 800-megawatt solar plant within Kizad will power the ammonia unit

     

    Helios Industry, a privately-owned special project vehicle (SPV) company, is set to invest over AED3.67 billion ($1 billion) in the construction of a green ammonia production facility at Khalifa Industrial Zone Abu Dhabi (Kizad).

    The plant, to be developed in two phases, will be powered by a dedicated 800-megawatt solar power plant within Kizad in the near future with a capacity of 100 megawatts in Phase One, said a statement from Kizad, a subsidiary of Abu Dhabi Ports.

    The plant will use solar power to electrolyze water and split molecules into Hydrogen and Oxygen. At peak capacity, 40,000 tonnes of the green hydrogen released in this process will be used to produce 200,000 tonnes of green ammonia.

    Abdullah Al Hameli, Head of Industrial Cities & Free Zone Cluster, Abu Dhabi Ports, said: “The adoption of sustainability and green technology has gained significant traction within the GCC and greater Mena region over the past few years.”

    “Abu Dhabi Ports is proud to be the host of an innovative company like Helios Industry and one of the region’s first green ammonia plants with zero carbon emission,” said Al Hameli.

    “We are committed to the growth and success of our customers and strive to continue supporting responsible manufacturers who are helping bring about increased sustainability across industries, whilst simultaneously enhancing the level of green knowledge and awareness within the UAE,” he added.

    MK Saiyed, managing director of Helios Industry, said it will be the first production plant within Abu Dhabi to produce green ammonia from hydrogen using renewable energy.

    Upon completion, the plant is expected to reduce CO2 emissions by an excess of 600,000 tonnes annually, equivalent to the amount of pollution generated by roughly 140,000 vehicles if conventional methods are employed for Ammonia production.