UAE announces over $1.6B in industrial projects including hydrogen plant

UAE announces over $1.6B in industrial projects including hydrogen plant

The UAE’s Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber on Wednesday announced more than 30 industrial projects worth over 6 billion dirhams ($1.63 billion), including the country’s first hydrogen electrolyzer plant, to produce green energy.

Jaber made the announcements at the "Make it in the Emirates" forum in Abu Dhabi on Wednesday. The event was organized by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development and Abu Dhabi National Oil Company (ADNOC), of which Jaber is also the chief executive officer.

The hydrogen electrolyzer plant will produce hydrogen, which can be used as a low-emission car power alternative to petrol. It will be the first facility of its type in the UAE.

Jaber said during the forum that an additional $2.7 billion of offtake agreements had been made in the UAE’s industrial sector, taking the total value of products targeted for localization to $32 billion.

Jaber said his company ADNOC would allocate more than 20 billion dirhams for the purchase of structures and metal products from national companies, Oil & Gas Middle East reported.

He added that competitive financing initiatives would be announced for the UAE’s industrial sector, including 5 billion dirhams from