PROJECTS: UAE, South Korea sign pact to provide financial support for hydrogen-related projects

Etihad Credit Insurance (ECI), the UAE Federal export credit company and Korea Trade Insurance Corporation (KSURE) signed an MoU on providing financial support for hydrogen-related projects, according to a press statement by Abu Dhabi Chamber of Commerce and Industry (ADCCI)

 

The signing took place on the sidelines of a Business Roundtable on renewable energy and green hydrogen organised by ADCCI and Korea International Trade Association (KITA) on Sunday, 16 January.

 

In his opening speech, Suhail Al Mazrouei said the UAE is keen to expand its partnerships with Korea and Korean companies and to build upon the long track record of its cooperative success in an array of fields, including nuclear energy, oil and gas, and technology.

 

Abdulla Mohamed Almazrui, Chairman of both the Federation of the UAE Chambers and Abu Dhabi Chamber of Commerce and Industry said the UAE is equipped with an advanced infrastructure and high-production capabilities that allow it to produce competitive hydrogen.

 

“The Federation of UAE Chambers is completely ready to join hands with KITA, the Korean Hydrogen Alliance and Emirati companies interested in investing in this promising sector,” he said.

 

(Writing by SA Kader; Editing by Anoop Menon)