Three South Korean companies have signed an agreement that will enable the construction of a $1bn green hydrogen and ammonia production plant in the UAE.
The three companies, Korea Electric Power Corporation, its subsidiary Korea Western Power and Samsung C&T Corporation, have joined hands with UAE-based Petrolyn Chemie, which is a joint venture between UAE energy companies Petrolyn and Chemie Tech.
South Korean companies target KIZAD
Under the joint development agreement, which was signed at the Khalifa Industrial Zone Abu Dhabi (KIZAD), the South Korean companies will build a plant that will initially be able to produce 35,000 tonnes of green ammonia annually and can later be scaled up to reach an output of 200,000 tonnes. The capacity will be installed within the KIZAD area near Abu Dhabi in two stages.
An exact timeframe for installing each phase is yet to be announced.
The project will contribute to the reduction of the UAE’s carbon footprint and support the country in achieving its 2050 carbon neutrality goal, news agency Reuters reported, citing the partners.