KSA Business: Ma’aden, Gulf Cryo to set up carbon capture plant in Saudi Arabia – Gulf Digital News

KSA Business: Ma’aden, Gulf Cryo to set up carbon capture plant in Saudi Arabia – Gulf Digital News

Saudi mining giant Ma’aden has signed an agreement with Gulf Cryo, the regional leader in managing the carbon full circular value chain - from capture to utilization - for setting up a carbon capture plant in the kingdom.

As per the deal, Gulf Cryo will construct and operate the mega carbon dioxide capturing plant within Maaden's integrated phosphate complex at Ras Al Khair for a 20-year period, said a statement from the company.

The partnership aims at reducing the carbon emission of the national mining company while providing a clean CO2 source to be used in industrial gases applications in the kingdom, creating a domestic circular carbon economy which increases the domestic value creation, fully supporting the plan to localize industries as per Saudi Vision 2030.

The captured CO2 will be distributed by Gulf Cryo, partly to International Maritime Industries (IMI), Saudi’s giant maritime yard, and the rest will be used in industrial applications such as EOR (Enhanced Oil Recovery) and water desalination, as well as in other industries such as F&B and agriculture.

The long-term agreement was signed by Engineer Hassan Al Ali, Executive Vice President Phosphate of Ma’aden, and Engineer Abdulsalam Al Mazro, Vice Chairman of Gulf Cryo, in the presence of