DL E&C-Hyundai Oilbank Sign MOU for Eco-Friendly Building Material Technology Development

Design and Construction of the Largest Domestic Carbon Dioxide Capture and Utilization (CCU) Facility

On the 12th, at the Hyundai Oilbank Seoul Office in Jung-gu, Seoul, Ma Chang-min, CEO of DL E&C (right), and Kang Dal-ho, President of Hyundai Oilbank, signed the "Carbon Reduction Eco-friendly Building Materials Business Agreement."

[Asia Economy Reporter Onyu Lim] DL E&C (formerly Daelim Industrial) and Hyundai Oilbank signed a "Carbon Reduction Eco-friendly Building Materials Business Agreement" on the 12th. Through this business agreement, the two companies plan to commercialize the largest-scale eco-friendly building materials production facility in Korea and introduce the products produced through it to construction sites.

DL E&C and Hyundai Oilbank plan to build a carbonation product manufacturing plant using desulfurization gypsum and carbon dioxide, byproducts generated from the refining facilities operating at Hyundai Oilbank's Daesan plant in Seosan, Chungnam Province. Carbonation products are used as raw materials for building materials such as cement and concrete.

DL E&C will be responsible for the design, procurement, and construction of the plant utilizing Hyundai Oilbank's desulfurization gypsum carbonation technology. The two companies plan to complete the design within this year and begin construction in the first quarter of next year. Starting with an annual production plant of 100,000 tons in 2022, they plan to increase annual production to up to 600,000 tons. This will be the largest-scale carbon dioxide capture and utilization (CCU) facility in Korea.

Hyundai Oilbank expects to reduce carbon emissions from the refining process by 120,000 tons annually through plant operation. This effect is comparable to planting 10 million pine trees. Additionally, they anticipate creating added value through product manufacturing using byproducts.

DL E&C plans to accelerate ESG management through the eco-friendly building materials business. They intend to introduce cement and concrete using carbon-reducing materials to apartments and civil engineering sites. The production process reduces greenhouse gases and recycles resources, and unlike conventional cement or concrete that involves mining and processing limestone from quarries, it does not raise concerns about environmental damage, making it eco-friendly. Furthermore, through this agreement, they plan to further develop technology and know-how related to CCU facilities and expand their eco-friendly new business portfolio.

At the signing ceremony, DL E&C CEO Changmin Ma said, "Through this project, we have established a breakthrough to create new value by utilizing captured carbon dioxide," and added, "It will be the most proactive form of carbon reduction activity that practices ESG management while achieving carbon neutrality."

Hyundai Oilbank President Dalho Kang stated, "This cooperation is an innovative eco-friendly business model that reprocesses pollutant emissions and low-utilization byproducts into useful products," and said, "We will continue to strengthen ESG management to accelerate carbon neutrality."

This content was produced with the assistance of AI translation services.