DL E&C, First in Domestic Construction Industry to Enter Carbon Market

DL E&C CEO Changmin Ma (right) is taking a commemorative photo with Newriser President Phil Stabler (left).

Priority Contract Agreement and MOU Signed with Australia's NeuRizer and Drivetrain

Targeting the Global Market with Customized Solutions to Realize ESG Vision

[Asia Economy Reporter Kim Min-young] DL E&C has become the first in the domestic construction industry to successfully enter the global carbon market.

DL E&C announced on the 31st that it signed a priority contract agreement on the 30th with NeuRizer, an Australian eco-friendly fertilizer manufacturer, to carry out conceptual and basic design for carbon capture, utilization, and storage (CCUS) facility construction.

DL E&C plans to complete detailed condition negotiations and finalize the main contract by next month. Having won the basic design project for the ammonia and urea production plant construction ordered by NeuRizer last May, DL E&C was recognized for its technical capabilities by the client and selected as the exclusive preferred negotiator for this project.

This project involves constructing a plant to capture, utilize, and store 50,000 tons of carbon dioxide annually generated from a small power plant with a capacity of 5MW. The site is located in the Leigh Creek mining area, 550 km north of Adelaide, the capital of South Australia.

After completing the conceptual and basic design, DL E&C expects to secure a favorable position in bidding for the approximately 100 billion KRW scale engineering, procurement, and construction (EPC) project scheduled to be ordered. Additionally, DL E&C is discussing with the client the addition of a carbon compression and storage facility with an annual capacity of 1 million tons to NeuRizer’s ammonia and urea production plant, for which design work is currently underway, raising expectations for additional CCUS project orders in Australia.

On the same day, DL E&C also signed an MOU with Drivetrain to cooperate on CCUS sales activities. This is to actively target Australia, where the CCUS industry is rapidly growing. According to the global market research firm IndustriaQ, the global CCUS market size is expected to reach 25.3 billion USD by 2026.

Drivetrain is a company that sells German Siemens gas engines and gas turbines in Australia and provides related technical services. DL E&C plans to strengthen its CCUS sales capabilities in the Australian power generation market by leveraging Drivetrain’s competitiveness and network.

DL E&C CEO Machangmin said, "DL E&C’s presence, which can provide customized solutions to realize carbon neutrality and ESG vision, is beginning to attract attention in the global market," adding, "Starting with Australia, the first step in the global CCUS business, we plan to expand our global carbon business to the Middle East, North America, Europe, and other regions."

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