Samsung E&A Co. has secured a contract value $475 million (680 billion gained) to construct a low-carbon ammonia manufacturing plant within the US, marking its first-ever challenge within the rising clear ammonia sector.
The South Korean engineering and development firm stated Thursday that it signed an engineering, procurement and fabrication (EPF) settlement with Wabash Valley Assets, a US-based power developer. The contract interval is 30 months.
Below the challenge, Samsung E&A will assemble an eco-friendly facility in West Terre Haute, Indiana, able to producing 500,000 tons of ammonia per 12 months whereas capturing 1.67 million tons of carbon dioxide yearly. The ammonia will primarily be used as fertilizer throughout the US Midwest agricultural area.
Samsung E&A stated that the challenge is a national-level initiative, backed by the US Division of Power (DOE), South Korea’s Ministry of Land, Infrastructure and Transport, and the Ministry of Local weather, Power and Setting, with official approval granted for everlasting carbon storage within the US.
“This contract represents a profitable reentry into the US market,” the corporate stated in a press release. “We plan to leverage this challenge as a springboard to develop our presence within the North American plant sector.”
Write to Byung-yeon Yoo at yooby@hankyung.com
