Origin Energy signs up for hydrogen partnership with Korean steel giant
Leading South Korean manufacturer Posco has signed a watershed deal with Australian power company Origin Energy to use our hydrogen to create green steel.
The two companies have entered into a memorandum of understanding to cooperate on producing and supplying green power to Korea. The announcement comes as operations worldwide seek to decarbonise their industries, as the world works towards a more sustainable future.
Origin is already preparing export-scale projects, including a 300-megawatt project in Townsville powered by wind and solar, and a 500-megawatt green ammonia plant at Bell Bay Tasmania. This could be the first of many partnerships forged with major nations, including China, Japan and Korea, committing to be carbon net-zero by 2050 or 2060.
South Korea’s Paradise Co nears US$100 million loss in 2020 after tough December quarter
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Leading South Korean foreigner-only casino operator Paradise Co has reported a loss of KRW59.21 billion (US$53 million) in 4Q20, pushing the company’s loss for the full year out to a sizeable KRW109.85 billion (US$98.4 million).
The challenging finish to an already difficult year came amid a nationwide tightening of COVID-19 restrictions from November as a third wave of the virus swept across the country. Those restrictions included limits on capacity at most Paradise properties and the closure of its Seoul casino, Paradise Walkerhill, for three weeks from mid-December.
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