LUPRO, a global green hydrogen and green ammonia resource production company, announced on the 10th that it recently signed a contract to produce 40 million tons of green ammonia resources in Thailand.

LUPRO will produce green ammonia resources in a joint venture with global energy company Ma Corporation at a 5.4 million square meter green energy plant to be built in Chachoengsao, near Bangkok, Thailand. The contract is worth $30 billion (approximately 44 trillion won).

According to LUPRO, Thailand boasts optimal renewable energy conditions, including abundant water resources and high-quality wind and solar energy. Furthermore, as a global maritime logistics hub, it is strategically located, offering significant savings in production and transportation costs.

The Thai government, leveraging this competitiveness, is also demonstrating a strong commitment to carbon neutrality. In a recent interview with KBS, Thailand's 56th Deputy Prime Minister, Khon Davaransi, emphasized the nation's commitment to a green transition, stating, "Thailand is ready to create a 'carbon-zero' environment beneficial to human health."

The green hydrogen and green ammonia produced by LYUPRO in Thailand will be supplied to Korea through the Saemangeum New Port and used in co-fueled power generation and small fuel cell power generation. They will also be exported to Southeast Asia and Europe through MA Corporation.

Achirason Ittawal, CEO of MA Corporation, stated, "This joint venture will be a significant step toward achieving carbon neutrality in Thailand and Southeast Asia. Together with LYUPRO, we will lead the green energy paradigm shift."

LYUPRO is also conducting green energy resource production projects based on solar and wind power in Thailand and the UAE. Based on these global business achievements, the company was recently valued at approximately USD 4.5 billion by Samjong KPMG.

Kim Se-ho, Chairman of ELUPRO, emphasized, “We will significantly expand our influence in the global market with the 40 million ton resource production contract in Thailand as a momentum,” and “I am proud to say that this is a symbolic achievement that demonstrates that domestic companies’ eco-friendly energy resource production capabilities and execution capabilities are sufficiently competitive on the international stage.”