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Samsung C&t Joins Us$5 Bln Carbon-capture Project In Britain
Mar 28, 2012
Samsung C&T Corp. (KSE:000830),
a South Korean trading firm, said Wednesday it has inked a deal
to join a US$5 billion project to build a coal-powered plant
and a carbon capture and storage facility in Britain.
Under the joint development agreement with London-based 2Co
Energy Ltd., Samsung C&T will build a 900 megawatt coal
gasification plant and a carbon capture and storage facility at
Stainforth in South Yorkshire.
The agreement allows Samsung C&T to own 15 per cent of the
so-called Don Valley Power project, and aims to start test-runs
of the facilities in 2016.
Financial details of the agreement were not disclosed.
The project will capture 90 per cent of its carbon dioxide
emissions, which would otherwise be emitted into the
atmosphere, to help in the extraction of oil from the North
Sea, according to Samsung C&T.