{"id":11779,"date":"2021-10-18T13:31:25","date_gmt":"2021-10-18T13:31:25","guid":{"rendered":"https:\/\/staging.asminternational.org\/hts3-new\/air-products-signs-12-billion-joint-venture-in-jazan-saudi-arabia\/"},"modified":"2023-02-23T22:48:30","modified_gmt":"2023-02-23T22:48:30","slug":"air-products-signs-12-billion-joint-venture-in-jazan-saudi-arabia","status":"publish","type":"post","link":"https:\/\/www.asminternational.org\/ims-new\/results\/-\/journal_content\/56\/10192\/45961418\/NEWS\/","title":{"rendered":"Air Products signs $12 billion joint venture in Jazan, Saudi Arabia"},"content":{"rendered":"

Air Products, Allentown, Pa., has signed and finalized definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit (ASU)\/gasification\/power joint venture (JV) with Aramco and ACWA Power in Jazan Economic City.<\/p>\n

Aramco via its subsidiary Saudi Aramco Power Company (SAPCO) has a 20% share in the JV; Air Products 46%; ACWA Power 25%; and Air Products Qudra 9%. Moreover, Air Products\u2019 total ownership position is 50.6% by owning an additional 4.6% through Air Products Qudra.<\/p>\n

The JV is purchasing the ASUs, gasification, syngas cleanup, utilities, and power assets from Aramco. The JV owns and operates the facility under a 25-year contract for a fixed monthly fee. Aramco will supply feedstock to the JV, and the JV will produce power, steam, hydrogen, and other utilities for Aramco.<\/p>\n

The JV serves Aramco\u2019s Jazan Refinery, a megaproject to process 400,000 barrels per day of crude oil to produce the main products such as ultra-light sulfur diesel, gasoline, and other products.<\/p>\n

Read further here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Air Products, Allentown, Pa., has signed and finalized definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit (ASU)\/gasification\/power joint venture (JV) with Aramco and ACWA Power in Jazan Economic City.<\/p>\n","protected":false},"author":63103,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[443,440,441,479,451,1],"tags":[],"class_list":["post-11779","post","type-post","status-publish","format-standard","hentry","category-fossil-fuel-power","category-news","category-news-articles","category-petroleum-and-chemical-processing","category-tools-and-dies","category-uncategorized"],"yoast_head":"\nAir Products signs $12 billion joint venture in Jazan, Saudi Arabia - International Metallographic Society - New<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Air Products signs $12 billion joint venture in Jazan, Saudi Arabia - 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