Al Sharif Group Holding Announces a New Agreement at the Gabon-France Economic Forum.
Al Sharif Group Holding sponsored the first economic forum between Gabon and France, held in the French capital, Paris, last Wednesday. This participation aligns with the group’s commitment to enhancing economic and trade relations with Gabon, as part of its strategy to expand its global green energy projects. The company has a long history of successful investments in promising African countries.
The economic forum was held under the theme “For a Renewed Partnership,” attended by the President of Gabon, Mr. Brice Clotaire Oligui, the Minister of Energy and Hydraulics, Mr. Jeanot Kalima, the Minister of Finance and Economy, Mr. Miss Moussa, along with a distinguished group of executive directors of major global companies. Al Sharif Group Holding’s participation as a sponsor and official partner of the event reaffirms its commitment to developing and enhancing investments in Gabon.
During the forum, a Memorandum of Understanding was signed between the Gabonese government, Al Sharif Group Holding, and Hydroma Inc to produce green and white hydrogen in Gabon. The project includes two main phases: establishing a 200 MW hydroelectric power plant to supply electricity to the water electrolysis plant, enabling the production of 200,000 tons/year of green hydrogen at an estimated cost of $900 million. The hydrogen production will then be increased to 1.6 million tons/year at an estimated cost of $4.6 billion. This initiative reflects Al Sharif Group Holding’s commitment to sustainable and green energy investments, aligned with the goals of Saudi Arabia’s Vision 2030.