![Officials are taking commemorative photos at the signing ceremony of a $40 million, $30 billion production contract for green energy. [L.O.유.E professional]](https://wimg.mk.co.kr/news/cms/202602/10/news-p.v1.20260210.e166166ce1024458a475c2b6d53db214_P1.jpg)
LUPRO, a global green hydrogen and green ammonia resource producer, announced on the 10th that it recently signed a 40 million-ton green ammonia resource production contract in Thailand.
LUPro will produce green ammonia resources in collaboration with Ma-Corporation, a global energy company, at a 5.4 million square meter green energy plant to be built in the lower Shao area near Bangkok, Thailand. The contract is worth 30 billion dollars (about 44 trillion won).
Thailand has abundant water resources and optimal renewable energy conditions such as high-quality wind and solar power, according to LUPro. It is also known as a strategic hub that can drastically reduce production and transportation costs as a global maritime logistics center.
The Thai government is also showing a strong will to be carbon neutral based on this competitiveness. Thailand’s 56th Deputy Prime Minister Condavaransi said in a recent 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 ammonia, a green hydrogen produced by LUPro in Thailand, will be supplied to Korea through Saemangeum Port New Port and used for hybrid power generation and small fuel cell power generation. It will also be fully exported to Southeast Asian and European markets 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, Samjeong KPMG recently evaluated the corporate value of about $4.5 billion.
“We will greatly expand our influence in the global market with Thailand’s 40 million-ton resource production contract,” said Kim Se-ho, chairman of LUPro. “We are proud that it is a symbolic achievement that shows that domestic companies’ ability to produce eco-friendly energy resources and their execution capabilities are competitive enough on the international stage.”
