Samsung Heavy Industries (SHI) has unveiled plans to invest KRW500bn ($434m) by 2015 in a new shipyard project.

Under the Green Shipyard project proposal, the South Korean shipbuilder will develop only eco-friendly ships from 2015 with up to 30% fewer greenhouse gas emissions, the company said.

SHI said it will develop green workplaces, green networks and zero-energy houses.

The company also plans the world’s first eco-friendly ship by developing LNG and hydrogen fuel cells, superconduction electricity-powered motors and cables, and CO2 collection technology.

Samsung said it has applied green technologies to a 13,000 TEU containership, which showed that greenhouse gas emissions could be reduced by 30%.