Jordan Approves Extension of Green Hydrogen Project with Fortescue Future Industries
Key Ideas
- Cabinet approves extension of green hydrogen project with 'Fortescue Future Industries' in Aqaba until March 2026.
- Aims to establish a unified framework for advanced developers to meet project requirements and implement necessary infrastructure.
- Seeks to define a standardized model for investment agreements in green hydrogen projects and outline provided incentives and expected returns.
In Jordan, the Cabinet has given the green light to extend the framework agreement signed between the government and 'Fortescue Future Industries' for their green hydrogen and green ammonia production project in the Aqaba Special Economic Zone. This extension, valid until March 31, 2026, is designed to facilitate the development of green hydrogen projects by creating a unified framework for advanced developers like Fortescue Future Industries and financial institutions. The main objective is to ensure that the necessary infrastructure for these projects is in place, making them financially viable and enabling developers to confidently make investment decisions. Additionally, the decision aims to establish a standardized model for investment agreements in the green hydrogen sector. By setting common guidelines and incentives for all companies interested in investing in green hydrogen, the government hopes to attract more investments and streamline the process for companies seeking to enter this promising industry.