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Japan’s Marubeni Corp. signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF) to set out a framework for developing a clean hydrogen project in Saudi Arabia, the company said in a statement.
Under the MoU, the two parties will initially conduct a feasibility study for producing clean hydrogen in the Kingdom, with the aim of supplying clean hydrogen to both local and international markets.
Marubeni will proceed with the project together with PIF utilizing the knowledge it has acquired through its business development and operations in the Kingdom, the statement added.
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