North Jeolla Province has signed a 40-million-dollar investment deal with the U.S. renewable energy firm Red Lion Bio-Energy, who has agreed to build a gasification facility on the Saemangeum reclamation site.

North Jeolla Governor Kim Wan-joo met with Red Lion officials in New York Friday and agreed to build a factory capable of producing 100 gasification plants on a yearly basis from 2010 through 2012. The facility will be on a 65-thousand-square-meter site and will employ 600 workers.

The governor also clinched a billion-dollar investment deal with Windsor Capital and Musa Group in the province's free economic zone and signed a memorandum of understanding on a three-billion-dollar investment by Omni Holdings to build a hotel and leisure facility in the Gogunsan Archipelago.