Adviser appointed for $2.5bn Oman green hydrogen-based ammonia project

26 Apr 2021
Adviser appointed for $2.5bn Oman green hydrogen-based ammonia project

India’s Acme Solar Holdings has appointed Synergy Consulting as the financial and transaction adviser for the planned project to invest $2.5bn in a scheme to manufacture green ammonia and green hydrogen in Oman

 

India’s Acme Solar Holdings has appointed Synergy Consulting as the financial and transaction adviser for the planned project to invest $2.5bn in a scheme to manufacture green ammonia and green hydrogen in Oman.

According to sources close to the project, Synergy Consulting has already been appointed and the client is currently in the process of hiring law firms to push the development process forward.

The ammonia and hydrogen facility is due to be developed in the Duqm industrial zone, with the aim of supplying green ammonia to Europe, America and Asia.

Acme signed a memorandum of understanding (Mou) with the Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer) in March to develop a facility with the capacity to produce up to 2,200 metric tonnes of green ammonia per day.

Acme is currently developing a pilot green hydrogen and ammonia plant in Rajasthan, India, which is due to start operation in April this year.

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