South Korean companies to build $1 billion green hydrogen plant in UAE

DUBAI, June 3 (Reuters) – Three South Korean companies have signed an agreement to build a $1 billion green hydrogen and ammonia production plant in the United Arab Emirates, their UAE partner said on Friday.Korea Electric Power Corporation (015760.KS), Samsung C&T Corporation (028260.KS) and Korea Western Power, alongside the UAE’s Petrolyn Chemie, will build a plant that can produce up to 200,000 tonnes of green ammonia a year, Petrolyn said.Green hydrogen – obtained by passing renewably-produced electricity through water to split the element from oxygen – has been touted by some as a key fuel for energy users looking to cut greenhouse gas emissions.Register now for FREE unlimited access to Reuters.comRegisterBoth the UAE and neighbour Saudi Arabia have set out ambitious plans for hydrogen, amid a deepening economic rivalry between them.The plant will be built in two phases in the…

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