Fortescue Metals Groups Board Approved FID for Green Energy And Green Metals Project

Fortescue Metals Group Ltd (ASX: FMG) announced that it has achieved a significant milestone as its board approved a Final Investment Decision on the Phoenix Hydrogen Hub, USA, the Gladstone PEM50 project in Queensland, Australia and a Green Iron Trial Commercial plant in Western Australia. The estimated total investment in the three approved projects is approximately US$750 million over the next three years.

These are three of the first green hydrogen deals ever to be proceeded to FID in the United States and Australia, with a pipeline of projects to follow which will considerably scale up Fortescue’s global green energy production, with lessons learnt from these first three projects.

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