Marking a major commitment for both Fortescue and Argentina’s hydrogen economy, the investment is believed to create more than 15,000 direct jobs and between 40,000 and 50,000 indirect jobs.
In order to confirm the planned capacities will be possible in the region, Fortescue will carry out a pilot stage, with an estimated investment of $1.2bn, which will produce 35,000 tonnes of green hydrogen.
The pilot is believed to start in 2022 and end in 2024.
Argentina’s President Alberto Fernández welcomed the move, stating, “Argentina has a great opportunity ahead and it needs companies like this [Fortescue] that invest and generate work.
“Green hydrogen is one of the fuels of the future and it fills us with pride that Argentina is one of the countries that is at the forefront of the ecological transition.
“In a short time, our country will be able to become one of the world suppliers of this fuel that will allow to drastically reduce carbon emissions in the world.”
Andrew Forrest, President of Fortescue Metals Group, added, “We are ready to invest in Argentina, we are a cutting-edge company that hires people are trains people, and that is what we want to do in your country.
“We are here so that Argentina is a world leader in renewable energy and to be an exporter.”
Did you know H2 View is the only media publication to be recognised as an official partner of the Hydrogen Council?
This means we get exclusive columns, interviews and studies that you won’t find anywhere else. Along with our featured webinars and events, H2 View is the go to global platform for the hydrogen industry.
Become a subscriber today to make sure you don’t miss out. Already a subscriber? Log in here.