Samsung C&T to help Qatar lower carbon footprint

Oh Se-chul, right, CEO of Samsung C&T's construction division, and Qatar Free Zones Authority CEO Sheikh Mohammed bin Hamad Bin Faisal Al-Thani, center, attend a breakout session moderated by Bloomberg Television Anchor Joumanna Bercetche, during the Qatar Economic Forum at the Raffles Fairmont in Doha, Qatar, Tuesday (local time). Korea Times photo by Park Jae-hyuk

DOHA, Qatar — Samsung C&T announced a new partnership with the Qatar Free Zones Authority (QFZ) to lower the Middle Eastern country's carbon footprint by using the Korean company's advanced technologies.

Oh Se-chul, CEO of Samsung C&T's construction division, said Tuesday (local time) that his company and QFZ would hold an event the following day for their cooperation in three key strategic areas.

The only speaker from Korea at this year's Qatar Economic Forum, Oh made the remarks during the event's breakout session on the future of foreign direct investment and shifting supply chains. The session was also attended by QFZ CEO Sheikh Mohammed bin Hamad Bin Faisal Al-Thani.

"This partnership will diversify our business not only in EPC (engineering, procurement and construction) but also in investing in this area," Oh said. "We have witnessed how Qatar has become a strong player in the global market and supply chain."

Over the past 25 years, Samsung C&T has participated in $10 billion worth of large-scale projects in Qatar, including the construction of solar power plants, facilities to store and load liquefied natural gas and a desalination and combined-cycle power plant.

Regarding the latest partnership with the natural gas-rich country, Oh mentioned solar technology, low-carbon bio business and digital infrastructure as the three major areas for collaboration. He unveiled his company's plans to utilize its experience in low-carbon initiatives and data centers, as well as the planned development of advanced solar projects in Qatar.

However, neither side disclosed the economic value of the partnership during the session.

The QFZ CEO noted that the authority has worked with Samsung C&T over the past two years to learn about technologies for the project to reduce carbon footprints.

"It's been very exciting to see how these technologies have been evolving," he said. "These technologies are actually applicable in two countries outside of South Korea, and now they're looking into the region and how to apply it to the region, pioneering it in the region."

Introducing QFZ's commitment to developing tailored regulations and providing convenience for foreign investors, he cited the collaboration with Samsung C&T as an example of the outcomes of such efforts.

He also said competition with other Gulf nations to attract foreign investment has helped them complement one another, becoming beneficial for all of them as a group.