The government signed a memorandum of understanding with the company HIF Global for the construction of a plant green hydrogen in Paysandu, which would imply an investment of 6,000 million dollars, the highest amount in the history of Uruguay.
If completed, the initiative means the creation of some 3,000 jobs, but it also positions Uruguay on the international stage as a country that promotes the development of green industries and could even be useful for issuing bonuses financial.
That is the reading made by the government, after the signing in the Executive Tower, in which the chancellor and interim minister of Industry, Energy and Mining participated; Omar Paganini the Secretary of the Presidency, Rodrigo Ferres; and the president of Ancap, Alejandro Stipanicic.
What is missing for the largest investment in history to come to fruition?
The nearly 6,000 million dollars that the Chilean company plans to invest HIF Global They represent the largest private investment in the history of the country. Ferres He stated in a press conference that this is the previous step to signing an investment contract and considered that the firm is a “very important player in the ecological fuels industry.”
For the plant to become a reality, the feasibility study remains to be carried out. “Some administrative issues must be met to facilitate the signing,” said Ferrés, while Paganini summarized: “The project remains to be economically closed, taking into account the cost system, international prices and environmental protection mechanisms.”
International positioning as a green country
Another important aspect of signing the memorandum of understanding is that it supports Uruguay as a leading country in renewable energy. “This serves to position us as a natural country, which is at the forefront of investments in ecological products,” said Ferrés.
At the same time, he considered that the start-up of the plant could be vital for “the issuance of financial funds”, as has been happening with the “green bond” of the Ministry of Economy and Finance (MEF) and even the credit of the IDB linked to climate issues.
In this regard, Paganini recalled that “the production of green fuels It is an industry in full development at an international level” and clarified that they will be destined mainly for export, since “the initial costs are high, for countries that are willing to pay an additional price to eliminate the Petroleum”.
Job creation in Paysandú
The Secretary of the Presidency highlighted that, once the project has started, it is expected that around 3,000 will be activated in the construction stage. Job positions. “And then in a later stage it will go down a little, but it is very large, especially for the area of Paysandu because it is also a decentralized project,” Ferres said.
Meanwhile, the mayor of Paysandú, Nicolas Olivera, who also participated in the signing of the agreement, admitted the relevance of the project due to “the industrial history” of that department and warned about the potential it has to “invigorate the local economy.”
Source: Ambito
