Hyundai Engineering announced on January 9 that it had won the $ 757 million Indonesia LINE project.
The company will build a naphtha cracking center (NCC) for the LINE complex, a very large petrochemical complex being promoted in the Cilegon region 90 kilometers northwest of Jakarta, the capital of Indonesia.
Meanwhile, Hyundai Engineering is making a big change in its business portfolio in line with Hyundai Motor Group’s transition to hydrogen electric vehicles and hydrogen fuel cells. The company encourages technological cooperation and large-scale investments to ensure competitiveness in the environmentally friendly hydrogen sector.
Hyundai Engineering is looking to commercialize a system that cracks ammonia to produce hydrogen. The company has signed an investment agreement with AAR, a company that has technology for producing hydrogen from ammonia, to produce high purity (99.99%) hydrogen by breaking down ammonia.
In addition to that, the company will this year start building a plant to produce clean, high-purity hydrogen using waste plastics as a raw material. It will invest 400 billion won to build the Dangjin plant in South Chungcheong province in Korea. Commercial production is expected to start in 2024.
Hyundai Engineering plans to produce 22,000 tonnes of clean, high purity hydrogen per year by processing 100,000 tonnes of plastic waste. Its production of hydrogen can fuel 150,000 hydrogen cars for a year (14,000 kilometers per year).
Hyundai Engineering will also acquire a stake in USNC, a US energy company, in the first quarter of 2022 to obtain an exclusive engineering, procurement and construction (EPC) right for ultra-small module reactors. It will focus on the development of a gas-cooled high temperature reactor (HTGR) and a very high temperature reactor (VHTR), which produce not only nuclear power but also hydrogen.
Earlier in July 2021, Hyundai Engineering launched the Green Environment & Energy (G2E) business division dedicated to environmentally friendly energy companies such as clean hydrogen production, new generation small reactor development, and fuel circulation. environmental resources.