[Anchor] 

Following Samsung C&T's entry into the green hydrogen business in Australia, mid-sized company Elupro is making waves in the Middle East, including Oman.

With more than 10 hours of sunshine, the production output is said to be substantial compared to the investment.

The Omani government is expected to accelerate the pace of co-production.

Daehee Kim is a reporter.

[Reporter] 

A hydrogen special zone near the port of Duqm, Oman.

It's full of seawater desalination plants that turn seawater into fresh water.

The hydrogen is extracted from the water and combined with over 10 hours of sunlight to produce green hydrogen and ammonia.

That's why global green energy midsize company Elupro was drawn to Oman.

[Seho Kim / CEO of Elupro: The Omani government is promoting the green energy business as a national strategic business, and in particular, for the green hydrogen and green ammonia business, it has created the infrastructure in the Duqm Free Economic Zone and provided tax exemptions for decades].

An area equivalent to 70 soccer fields.

The green ammonia production base will start next year with the support of the Omani government.

Previously, EluPro signed an agreement with the Omani government.

It will start a 200-megawatt green ammonia plant in the free economic zone, with a target of producing 500,000 tons per year.

The joint venture, with a 65% stake in ElUpro, will be launched next month, and Minister of Energy and Minerals Mohammed Al Rumhihi is excited about the synergies.

El-Ufro's valuation has jumped to at least $3 trillion, based on green ammonia supply contracts with the UAE, India, and others, as well as Thailand.

A major Korean accounting firm analyzed that even in the worst case scenario, the operating margin would remain above 90%, and the average profit per business would reach 30% over the next 20 years.

Kim Se-ho / CEO of L-UPRO: This is a very large supply contract of 200,000 tons per year for 15 years, which is worth about 3 trillion won, and it is very significant in that we can supply green ammonia produced by L-UPRO to the entire Southeast Asia].

When the Hwaseong hydrogen fuel cell power plant is completed in December, it will generate electricity for 100,000 people, and it will also be a semi-benefit for the Port of Incheon after Saemangeum.

[Standing] 

The introduction of hydrogen electric buses in Incheon will be accelerated if some of the green energy produced in the Middle East and India comes through Incheon Port.

I'm Kim Dae-hee from OBS News.