Gladstone is set to host the world’s largest hydrogen equipment manufacturing plants.

On Sunday, mining magnate Andrew “twiggy” Forrest, head of Fortescue Metals Group announced an initial $140 million stage of an expected 1 billion facility alongside Premier Annastacia Palaszczuk.

Mr Forrest says the time is right for the shift to green hydrogen powered furnaces, with the plant expected to deliver 173 jobs.