Engineering and site development works are understood to have started on the $6.5bn integrated green hydrogen and ammonia project in Neom.
This follows the allocation of a substantial amount for this segment of the project as well as the reservation of key long lead items for the construction of the facility.
The banks providing senior debt for the project are: Abu Dhabi Commercial Bank of UAE, Al-Rajhi Bank of Saudi Arabia, Alinma Bank of Saudi Arabia, Apicorp of Saudi Arabia, Banque Saudi Fransi, BNP Paribas of France, Credit Agricole of France, DZ Bank of Germany, First Abu Dhabi Bank of UAE, HSBC of UK, KfW of Germany, Korea Development Bank of South Korea, JP Morgan of US, MUFG Bank of Japan, Mizuho Bank of Japan, Natixis of France, Norinchukin of Japan, Riyad Bank of Saudi Arabia, Santander of US, Saudi National Bank, Standard Chartered Bank of UK, Sumitomo Mitsui Banking Corporation of Japan.
The Saudi Industrial Development Fund (SIDF) is providing a substantial portion of the debt in Saudi riyals.
