The location of the plant with a projected capacity of more than 1 million t/y is yet to be determined, the companies said. The final investment decision is planned for 2026 with commercial operation scheduled to begin in 2030.

"Our collaboration with Ineos Nitriles is aimed at strengthening our strategic foothold in the global ammonia market and addressing the growing worldwide demand for clean ammonia solutions," said Kiwon Yang, CEO of Hanwha. "The production of industrial materials using clean ammonia aligns well with our commitment to key sustainability principles. This technological advancement will be a pivotal turning point in realizing Hanwha's vision for a sustainable future," Yang added.

“This project is a potentially important contributor to Ineos Nitriles’ carbon emission reduction targets in 2030 and its net zero ambitions by 2050. This project would be a significant step towards a leadership position in low-carbon acrylonitrile supply of which ammonia with low-carbon emissions is a key raw material,” said Hans Casier, CEO of Ineos Nitriles.