Hive Hydrogen South Africa is trying to attract some of Japan’s biggest companies to invest in a $5.9 billion green ammonia project.
Senior officials from units of Mitsubishi UFJ Financial Group, Itochu, Mitsubishi Heavy Industries and Mitsui OSK Lines will visit the site of the proposed factory in Eastern Cape Province next week to assess whether to borrow money or make equity investments, Hive said Hydrogen. Officials from the International Finance Corporation and Japanese government agencies will also be present.
“This is the highest delegation Japan has ever sent to South Africa” in terms of business investment, said Colin Loubser, managing director of Hive Hydrogen in the city of Gqeberha, where the company plans to open the plant in 2029.
