Global green hydrogen and green ammonia resource producer LUPRO announced that it has signed a contract in Thailand for the production of 40 million tons of green ammonia resources.

LUPRO will produce green ammonia resources in partnership with global energy company Ma-Corporation at a 5.4 million m² green energy plant to be established in the Chachoengsao area near Bangkok, Thailand. The value of the contract amounts to USD 30 billion, or about KRW 44 trillion.

Thailand has abundant water resources and optimal renewable energy conditions, including high-quality wind and solar power, and as a hub of global maritime logistics, it is a strategic stronghold where production and transportation costs can be drastically reduced. Based on this competitiveness, the Thai government is also demonstrating a strong commitment to carbon neutrality.

Korn Dabbaransi, the 56th Deputy Prime Minister of Thailand, emphasized the nation’s commitment to a green transition, stating in an interview with KBS, “Thailand has completed preparations to create a ‘carbon-zero’ environment that is beneficial to human health.”

The green hydrogen and green ammonia produced by LUPRO in Thailand will be supplied to Korea via the new port at Saemangeum and used for co-firing power generation and hydrogen fuel cell power generation. It will also be exported to Southeast Asian and European markets through Ma-Corporation.

Achirasorn Ittaworn, CEO of Ma-Corporation, said, “This joint venture will be a major step toward realizing carbon neutrality in Thailand and Southeast Asia,” adding, “Together with LUPRO, we will lead the paradigm shift in green energy.”

In addition to Thailand, LUPRO is concurrently pursuing solar- and wind-based green energy resource production projects in the Middle East, including the UAE. Based on these global business achievements, the company has been valued at approximately USD 4.5 billion by Samjong KPMG.

Kim Se-ho, Chairman of LUPRO, stated, “Building on the 40-million-ton resource production contract in Thailand, we will expand our influence in the global market,” and stressed that “this is a symbolic achievement demonstrating that the eco-friendly energy resource production capacity and execution capabilities of Korean companies are fully competitive on the international stage.”

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