Global green hydrogen and green ammonia resource production company LUPRO has signed a contract to produce a total of 10 million tons of green ammonia in Thailand, embarking on green energy resource production.

LUPRO will produce green ammonia resources in collaboration with Thai energy company Ma Corporation at a green energy plant covering 5.4 million square meters near Bangkok, Thailand. The contract is valued at USD 7.5 billion, approximately KRW 10 trillion.

Thailand, with its abundant water resources and high-quality wind and solar energy, provides optimal conditions for renewable energy. As a central hub for global maritime logistics, it is a strategic location that can significantly reduce production and transportation costs. Based on this competitiveness, the Thai government also shows a strong commitment to carbon neutrality.

Thailand's 56th Deputy Prime Minister, Korn Dabbaransi, emphasized the country's commitment to green transition in an interview with KBS, stating, "Thailand is ready to create a 'carbon zero' environment beneficial to human health."

The green hydrogen and green ammonia produced by LUPRO in Thailand will be supplied domestically through Saemangeum New Port for use in co-firing power generation and hydrogen fuel cell power generation, and will also be exported to Southeast Asia and the European market through Ma Corporation.

Achirason Ittawol, CEO of Ma Corporation, stated, "This joint venture will be a significant step towards achieving carbon neutrality in Thailand and Southeast Asia," and added, "We will lead the paradigm shift in green energy with LUPRO."

LUPRO is simultaneously undertaking solar and wind-based green energy resource production projects in the Middle East, UAE, and has been valued at approximately USD 4.5 billion by Samjong KPMG based on these global business achievements.

Kim Se-ho, Chairman of LUPRO, stated, "With the 10 million ton resource production contract in Thailand, we will further expand our influence in the global market," and added, "We will actively contribute to achieving the 2050 net-zero goal by leading the global carbon neutrality trend."

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