A US $6.7bn deal to build the world’s largest green hydrogen plant in Duqm, Oman has been awarded to a consortium led by South Korean steelmaker Posco Group.

The consortium partners on the project include Samsung Engineering, a construction unit of Samsung Group, and two other Korean state-run power companies, as well as French energy major Engie and Thai national petroleum company PTTEP.

According to a report published by The Korea Economic Daily, Omani authorities will be signing the deal on 21 June with the Posco consortium, in the presence of its energy and minerals minister.

As per the terms of the deal, Posco Holdings will be leading the project and managing the plant-building processes in Oman, while Samsung Engineering will handle the engineering, procurement and construction (EPC) work of the facilities, stated the report.

The other firms in the consortium will either produce or sell the green hydrogen generated by the factory, the report concluded.