Hive Hydrogen South Africa is seeking 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 plant in Eastern Cape province next week to assess whether to lend it money or take equity investments, according to Hive Hydrogen. Officials from the International Finance Corporation and Japanese government agencies will also attend.
"This is the most senior delegation Japan has ever sent to South Africa” in terms of business investment, said Colin Loubser, Hive Hydrogen’s general manager in the city of Gqeberha, where the company plans to open the plant in 2029.