[Jiazan will build a green ammonia factory] Saudi Arabian Refining Company has signed a memorandum of understanding with Asia Union Hydrogen Energy to jointly build a green ammonia plant and a local hydrogen energy equipment manufacturing center in Jazan Industrial City, and to establish a research and development center in collaboration with Saudi universities. This is SARCO's third hydrogen cooperation agreement of the year, in line with Saudi Arabia's strategic goal of producing 1.2 million tons of green hydrogen annually by 2030. The agreement is expected to have a positive impact on SARCO's financial report in the third quarter of 2028, indicating that Chinese hydrogen energy companies are shifting from project contracting to localized industrial layout, accelerating their efforts to seize the opportunity in the Saudi hydrogen energy market.Editor/Cheng Liting
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