France's Engie and South Korea's POSCO will cooperate to launch construction on a 1.2 million tons per annum green ammonia project in Oman in 2027. The Engie and POSCO led-consortium was named the winner of the land block (Z1-02) offered by Hydrom, the orchestrator and master planner of Oman's green hydrogen industry.

Besides, Samsung Engineering, Korea East-West Power Co. (EWP), Korea Southern Power Co. (KOSPO), and FutureTech Energy Ventures Company also joined the partnership.

The period of the contract would be 47 years, separated by 7-year development and construction phase followed by a 40-year operational period.

The project will include up to approximately 5 GW of new wind and solar capacity, a Battery Energy Storage System (BESS), and a renewable hydrogen plant with a capacity of up to 200 kilotons per annum.

Hydrogen will be transported by a pipeline to the Special Economic Zone at Duqm, where it will be converted into around 1.2 million tonnes per annum of green ammonia, and exported the first batch to South Korea in 2030.