Samsung C&T Corp., a 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. (Yonhap)