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Saudi Hydrogen Energy Company has signed an agreement with the Chinese company China National Engineering Construction (CNCEC) to develop a project for producing green hydrogen and ammonia along the Red Sea coast between Jeddah and Jazan, with an estimated investment of $5 billion. The project aims to establish facilities capable of producing one million tons annually of green ammonia, develop an integrated value chain for hydrogen and ammonia to promote sustainability and energy security, as well as transfer modern knowledge and technologies. It also supports Saudi Arabia's objectives in transitioning to clean energy and its Vision 2030.
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