GS Engineering and Construction announced on the 28th that it has signed a memorandum of understanding with Honeywell to create opportunities for digital transformation in the plant business and green energy business.
The signing ceremony was attended by Huh Yoon-hong, president of GS Engineering and Construction, and Lucian Boldea, CEO of Honeywell Industrial Automation.
GS Engineering and Construction explained that this agreement marks its entry into a new long-term business in the energy sector based on its years of capabilities in engineering, procurement, and construction (EPC) for petrochemical projects.
GS Engineering and Construction and Honeywell will engage in collaborative technology efforts aimed at digital transformation of plant operations, carbon emission reduction, and maximizing energy efficiency.
Following the signing of the MOU, the two companies plan to cooperate in various fields, including reviewing the application of Honeywell UOP technology for initial projects in energy transition and decarbonization, researching energy optimization and carbon reduction technologies, collaborating on smart plant operations using artificial intelligence (AI), and sharing collaboration opportunities on individual projects through regular meetings.
Honeywell, based in the United States, is a global corporation that provides smart technologies across various sectors such as industrial automation, energy, and aerospace. In Korea, it offers solutions for sustainable growth and digital transformation, focusing on the semiconductor, energy, and smart building industries.
Meanwhile, GS Engineering and Construction is actively participating in renewable and green energy projects based on its accumulated EPC capabilities from its years of executing large-scale petrochemical projects, after integrating its power, environment, and renewable energy divisions into the plant division during an organizational restructuring at the end of last year.