The Hoffmann Green Units Project made an announcement, confirming it has signed its first agreement in Saudi Arabia. An industrial player that designs and markets innovative clinker-free cement, Hoffmann Green Cement Technologies, inked the deal with Shurfah Group.
In a nutshell, the exclusive licensing agreement will feature the construction of a series of Hoffmann Green units, in the region. A press release noted that the company remains committed to the decarbonization of the construction sector. Thus, the project further strives to support and contribute to the decarbonization of the industry, throughout the entire territory.
Quite impressively, the Hoffmann Green Units Project forms part of Saudi Arabia’s Vision 2030. The National Initiative also revealed that the ecological transition’s main focus and priority is development.
Hoffmann Green Units Project Agreement Details
As a whole, the Hoffmann Green Units Project’s agreement extends over a 22-year period. It includes the marketing of Hoffmann Green carbon-free cement, exclusively. In addition to the financing, building an operation of the production units. According to official reports, the very first clink-free cement plant will be constructed by 2024.
While commenting on the project, the Co-founder of Hoffmann Green Cement Technologies stated the agreement’s signing is a concrete reflection of its level of commitment. On the other hand, the Founder and Chairman of Shurfah Holding explained that Saudi Arabia targets to attain carbon neutrality by 2060. Abdullah Al Majed noted that the construction of the units will also adhere to sustainable principles.
As per the terms of the agreement, Hoffmann Green will receive from Shurfah Group fixed and variable annual royalties. In return for technological, and industrial advancement and exclusivity, Hoffmann will also receive an entry fee from the firm. Overall, the development project strives to actively support the ecological transition of the construction sector.