Samsung C&T Corp., 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 percent 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 percent 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.
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