Saudi Arabian Refineries Signs Green Ammonia MoU

SARCO

SARCO

2030.SA

0.00

On May 17, 2026, Saudi Arabian Refineries Company announced the signing of a non-binding Memorandum of Understanding with Ally Hydrogen Energy Co., Ltd., dated May 15, 2026. The MoU aims to establish a green ammonia production plant in Jazan Industrial City, create a local hub for hydrogen production and purification equipment assembly and manufacturing, and establish a research and development center in collaboration with local Saudi universities to promote innovation in green hydrogen and ammonia technologies. The memorandum remains valid for one calendar year from the signing date, with expected positive financial impact on the company's statements by the end of the third quarter of 2028.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95416&anCat=1&cs=2030&locale=ar

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

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