AHG Group to Invest $20M in New Saudi Industrial Gas Plant
Saudi industrial gas company AHG Group has announced plans to invest $20 million in building a new industrial gas production facility in Dammam, Saudi Arabia.
This project is part of AHG's strategy to expand in local and regional markets, increase industrial gas output, and broaden its supply chain.
AHG CEO Khalid Abdullah Hasim stated that this project "demonstrates our commitment to the industrial and manufacturing transformation under Saudi Vision 2030."
Saudi Vision 2030 is Saudi Arabia's long-term strategy for economic transformation, involving over $1 trillion in investments across various infrastructure projects like Neom (a $500 billion smart city including a green gas plant) and the Red Sea Project. A key focus of this plan is to source more products, such as industrial gases, locally and reduce imports.
AHG Group COO Hamid Sabzikari noted that the investment "was initiated in May and will be completed within 20 months by our in-house engineering and project execution team."
Demand for industrial gases in Saudi Arabia is expected to rise due to the numerous large-scale petrochemical projects currently underway and planned for the region.
