![Officials are taking a commemorative photo at the signing ceremony of a production contract for 10 million tons of Thailand's green energy worth 7.5 billion dollars. [L.O.유.E professional]](https://wimg.mk.co.kr/news/cms/202511/18/news-p.v1.20251117.83b92793918141e9926c7c0deeddfa79_P1.jpg)
LUPRO, a global green hydrogen and green ammonia resource producer, announced on the 18th that it recently signed a total of 10 million tons of green ammonia production contract in Thailand and started to produce green energy resources in earnest.
Under the contract, LUPro will produce green ammonia resources in a 5.4 million square meter green energy plant to be built in the lower Shao area near Bangkok, Thailand, in a joint venture with Thai energy company Ma Corporation. The contract is worth 7.5 billion dollars.
Thailand has abundant water resources and optimal renewable energy conditions such as high-quality wind and solar power, which is known as a strategic point to drastically reduce the production and transportation costs of global marine logistics.
The Thai government is also showing a strong commitment to carbon neutrality. Thailand’s 56th Deputy Prime Minister Condavaransi said in an interview with KBS, “Thailand is ready to create a ‘zero carbon’ environment that is beneficial to human health,” emphasizing the willingness to transition to green at the national level.
Green hydrogen green ammonia, produced by LUPro in Thailand, will be supplied to Korea through Saemangeum Port New Port and used for hybrid power generation and hydrogen fuel cell power generation. It will also export to Southeast Asian and European markets in earnest through Ma Corporation.
“This joint venture will be a big step toward realizing carbon neutrality in Thailand and Southeast Asia,” said Archirason It Towel, CEO of Ma Corporation. “We will lead the green energy paradigm shift with LUPRO.”
LUPro is conducting solar and wind-based green energy resource production projects not only in Thailand but also in the Middle East UAE. Based on these global business performances, LUPRO received an enterprise value of about $4.5 billion from Samjeong KPMG.
“We will further expand our influence in the global market with Thailand’s 10-million-ton resource production contract,” said Kim Se-ho, chairman of LUPro. “We will lead the global carbon neutral trend and actively contribute to realizing the 2050 net-zero goal.”
