H2Oman green hydrogen project to target $6.5bln worth FDI

A major green hydrogen project planned for development in the south of the Sultanate of Oman is anticipated to draw in foreign direct investments to the tune of around $6.5 billion, a key project official has revealed.Eng Siddiqa al Lawati , Project Lead, said the proposed H2Oman venture – one of half a dozen ‘Legacy Initiatives’ unveiled prior to the formal launch of Oman’s National Hydrogen Strategy in October – will unleash significant environmental, financial and social benefits for the country.Speaking at an energy forum held in Muscat recently, Siddiqa – who is part of the Alternative Energy Unit at Omani energy group OQ – added that the project will also include a sizable In-Country Value (ICV) component.H2Oman is backed by a consortium comprising leading Saudi-based global energy and water services group ACWA Power, OQ Group of the Sultanate of Oman, and US…

Read more…