Marubeni, PIF sign MoU for Saudi Arabian clean hydrogen project

Marubeni Corporation has signed an MOU with the Public Investment Fund (PIF) to develop a clean hydrogen project in Saudi Arabia. Initially, Marubeni and PIF will conduct a feasibility study for producing clean hydrogen in Saudi Arabia with the aim of supplying both domestic and international markets. PIF is actively developing projects to help Saudi Arabia achieve its net zero GHG emissions target by 2060.

Marubeni has ownership interests in four projects in Saudi Arabia. By utilizing the knowledge it has acquired through its business development and operations in the country, it will proceed with this project together with PIF. 

Through this project, Marubeni will contribute to the sustainable growth of global society and Saudi Arabia. PIF is playing a critical role in advancing Saudi Arabia’s economic transformation and diversification.