On June 20, LUPRO, a global green hydrogen company, announced that it has established a joint venture, ELUPro Oman, with a major Oman-based company and signed a contract to produce 5 million tons of green ammonia worth 6.5 trillion won. 

This is the world's first case of a joint venture using the name of the country, Oman, and is seen as showing the strong support of the Oman government for the project. In particular, the fact that LYPRO has secured 80% of the joint venture's shares is considered to be an achievement that goes beyond the conventional contract structure in the Middle East. Through the determined negotiations of Kim Se-ho, the chairman of ELUPRO, the company has achieved exceptional contract terms in the Middle East.  

Under the contract, ELUPRO Oman will produce 5 million tons of green ammonia in the Duhuk Free Economic Zone in Oman from 2027 to 2032. The production base will be built in stages with more than 5GW of green hydrogen facilities on a site of about 8.4 million square meters, which is the size of Yeouido.  

Kim Se-ho, the CEO of CJ CheilJedang, said, “This contract is an important step in responding to the global climate crisis,” and “We will lead the supply of hydrogen energy resources in the global market beyond Korea and Asia, and build a sustainable green energy ecosystem.”  

Meanwhile, LYPRO has also signed a 6.5 trillion won green ammonia supply contract with MA Corporation of Thailand for 10 years. Through this, it will establish a one-stop production and supply system in Southeast Asia and contribute to achieving carbon neutrality. The company plans to bring the green energy produced to Korea through various channels, including Saemangeum, Incheon Port, and Pyeongtaek New Port in Jeollabuk-do, to expand its carbon neutral project.

Meanwhile, LYPRO has also signed a 6.5 trillion won green ammonia supply contract with MA Corporation of Thailand for 10 years.

Through this, it plans to establish a one-stop production-supply system in Southeast Asia and contribute to achieving carbon neutrality. The official emphasized that the company will work closely with the government to develop a carbon-neutral ecosystem in South Korea.

Meanwhile, LYPRO has also signed a KRW 6.5 trillion green ammonia supply contract with MA Corporation of Thailand for 10 years.

Through this, the company plans to establish a one-stop production and supply system in Southeast Asia and contribute to achieving carbon neutrality.

It will then bring the produced green energy to South Korea through various channels, including Saemangeum, Incheon Port, and Pyeongtaek New Port in Je