Saudi Arabian Refineries Company announced that its wholly owned subsidiary, Clean Energy Company, has entered into a non-binding Memorandum of Understanding (MoU) with AGR Renewable Energy, a UK-based renewable energy company, to support the development of a green ammonia value chain in the Kingdom of Saudi Arabia.
Under the terms of the MoU, AGR Renewable Energy intends to purchase one hundred percent (100%) of the production output from the proposed green ammonia plant to be developed by the Company at Jazan Industrial City. The agreement reflects both parties’ shared commitment to advancing clean energy solutions and supporting the global transition toward low-carbon fuels.
The MoU will come into effect from the date of execution and will remain valid for a period of six (6) calendar months, unless extended by mutual written agreement. As the arrangement is non-binding, the Company confirmed that the signing of this memorandum is not expected to have any financial impact in the short or medium term.
This announcement follows the Company’s earlier disclosure regarding its plans to establish a green ammonia production facility. Saudi Arabian Refineries Company stated that it will announce any material developments related to this initiative in due course, in line with regulatory requirements.
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