Saudi Arabian Refineries Company (Sarco) has announced that it has signed a non-binding MoU with the UAE-based GO Energy Company to collaborate on developing the green hydrogen (ammonia) project in the Kingdom of Saudi Arabia.

As per the deal, the two companies will conduct a joint study to develop the green hydrogen (ammonia) proposed by both companies and also design a legal framework to support cooperation between the two parties, said Sarco in in its filing to Saudi bourse Tadawul.

This memorandum shall be effective from the date of its signature and shall remain in effect for a period of one year, it added.-TradeArabia News Service