An international consortium led by South Korea's POSCO Holdings and Samsung Engineering has secured a project to develop and build a large-scale green hydrogen plant in Oman.

According to POSCO Holdings on Thursday, the consortium, comprising six companies from three countries, signed an agreement with Hydrogen Oman in the capital Muscat the previous day.

The deal concerns the construction of a green hydrogen plant with an annual capacity of 220-thousand tons in Duqm, some 450 kilometers southwest of the Omani capital, as well as production at the facility for 47 years.

The six companies involved are POSCO Holdings, Samsung Engineering, Korea Southern Power Company, Korea East-West Power Company, France's ENGIE and Thailand's state-run PTTEP. The four South Korean firms together hold 64 percent.

The consortium will build a five-gigawatt renewable energy complex and a hydrogen power plant, as well as an ammonia production factory on land spanning 340 square kilometers.

Construction is set to start in 2027 through 2030, with total cost estimated to reach billions of dollars.