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Dahamco’s MAD 254 bn (AED 93.4 bn) green ammonia project in Dakhla has most of its ducks in a row: Emirati-Moroccon private venture Dahamco is developing a MAD 254 bn (c. AED 93.4 bn) hydrogen and ammonia project in Dakhla, Morocco, having finalized designs and mobilized investors for financing, Dahamco President Tom Hanson told Le Matin.
Where’s the project at now? The renewables venture has already received approval from the Moroccan government for the project and secured land use rights in 2022, he said. If agreements are finalized by 1Q 2025, the first phase could be operational by 2031, he added.
About the project: Phase 1 of the plant will cost MAD 40 bn (c. AED 14.7 bn), with planned annual production of almost 1 mn tons of green ammonia per year exclusively dedicated for exports mainly to Amsterdam, Rotterdam, and Antwerp for maritime transport and industry use, Hanson said. The plant will continue to be developed in phases to avoid the risks of “too early” adoption, where production for local industry may begin.
The financing: Dhamaco plans on raising the project’s first phase funds through equity and debt.
