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10 min ago 2 min read
South Korean construction company Hyundai E&C and Japanese trading firm Itochu Corporation are looking to develop and build new green hydrogen and ammonia plants.
Under a business agreement, the pair will pursue large-scale hydrogen and ammonia projects globally.
While no specific projects, investments, or timelines have been announced, Itochu will focus on project sourcing, financing, and structuring, while Hyundai will oversee engineering, procurement, and construction (EPC).
The agreement builds on an established relationship between the firms, which included work on a geothermal plant in Indonesia.
It points towards Itochu’s involvement in the “world’s first” ammonia bunkering vessel as an indicator of potential joint projects to come.
A spokesperson from Hyundai E&C said the partnership will capitalise on each party’s strengths and bolster the firm’s position in the construction of sustainable infrastructure.
The partnership comes as the firm moves into the ammonia arena, having also confirmed it 300,000 tonnes of green ammonia per year from India’s Larson & Toubro Greentech for supplying ships in the Asia-Pacific region.
Hyundai E&C it would undertake EPC on a South Korean liquid hydrogen storage project in a government-funded project.
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