HD Hyundai Oilbank Selected for Daesan Port Clean Complex Energy Project

The Ministry of Oceans and Fisheries announced on the 30th that it has selected HD Hyundai Oilbank as the project operator for the creation of the Daesan Port Clean Complex Energy Cluster.

The Daesan Port Clean Complex Energy Cluster project will be promoted through a non-administrative port development method. Non-administrative port development refers to a project where the private sector develops port facilities, which then become state property, and the developer can use the port facilities free of charge for a certain period equivalent to the investment cost while collecting usage fees, etc.

The Daesan Port Clean Complex Energy Cluster project is being promoted as a nationwide carbon neutrality policy in response to global climate change. It is significant as it will establish the country's first complex facility within a port area to produce, store, and distribute eco-friendly energy such as green hydrogen and ammonia.

The Ministry of Oceans and Fisheries plans to pursue project implementation approval in the second half of this year through the Daesan Regional Oceans and Fisheries Office, the project site management agency, and aims to commence construction in the first half of 2025.

After soft ground improvement work on the reclaimed port land (approximately 159,108㎡), facilities related to biofuels (Phase 1), refined oil production facilities that pyrolyze waste plastics (Phase 2), and hydrogen production facilities using clean ammonia (Phase 3) will be sequentially established.

The expected completion date is 2031. Minister Kang Do-hyung of the Ministry of Oceans and Fisheries stated, "Starting with the Daesan Port Clean Complex Energy Cluster, we will actively attract private capital to expand the production of eco-friendly energy and green hydrogen across ports nationwide."

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