Saudi Crown Prince Mohammed bin Salman announced on Wednesday plans for the construction of a massive floating industrial complex that will run on renewable energy and become home to “the world’s largest green hydrogen project”.

This new net-zero industrial city called Oxagon is to be established with a unique octagonal design in a large area in the southwest corner of Neom, a larger cross-border city planned to be built on the Red Sea coast in the northwestern Saudi province of Tabuk. Oxagon will serve as a fully integrated port and supply chain ecosystem for Neom.

The city will support seven industries including sustainable energy, autonomous mobility, water innovation, sustainable food production, health and well-being, technology and digital manufacturing, and modern methods of construction. All of these will be powered by 100% renewable energy. Moreover, the city will house what the developers say will be the world’s largest green hydrogen project as part of a tri-partite venture between Air Products (NYSE:APD), ACWA Power (TADAWUL:2082) and Neom.

In the summer of 2020, Air Products agreed with the Saudi duo a USD-5-billion (EUR 4.42bn) green hydrogen-to-ammonia project to be built near the kingdom’s borders with Egypt and Jordan. The plant is expected to produce 1.2 million tonnes of green ammonia per year.

https://ieefa.org/saudi-arabia-plans-massive-floating-green-hydrogen-complex/