The government of Western Australia is holding exclusive talks with Aussie and South Korean investors over a "giga project" that will create a one-million-tonne production complex for green ammonia near Geraldton.

The negotiations are being held with a consortium comprising Perth-based Progressive Green Solutions Inc and South Korea’s Samsung C&T (KRX:028260) and Korean Midland Power Co (KOMIPO), the government said on Tuesday.

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The project is planned to establish the first green ammonia production site in Western Australia.

Under the plan, the consortium intends to use two lots of land at DevelopmentWA's Narngulu Industrial Estate to build a plan that will make one million tonnes of green ammonia per year using renewable hydrogen. The facility, to be sited 12 km (7.5 miles) southeast of Geraldton, will export green fuel to South Korea, with first shipments expected to be made in 2027.

The project, if realised, will complement the planned hydrogen hub at Oakaje, north of Geraldton, the government said.