Bhubaneswar: Odisha has signed a memorandum of cooperation (MoC) with Japan’s IHI Corporation and ACME Group for investments worth Rs 67,000 crore to develop green ammonia and clean energy projects, reinforcing the state’s ambition to become a major hub for green fuels and hydrogen.
The agreement was signed on Friday during Chief Minister Mohan Charan Majhi’s meeting with a Japanese business delegation at Lok Seva Bhawan. Industries Minister Sampad Chandra Swain was also present, The New Indian Express reported.
Under the agreement, IHI Corporation and ACME Group will jointly establish three projects in Odisha, creating around 7,000 jobs.
The projects include a 0.4 million tonnes per annum (MTPA) green ammonia plant at Gopalpur-Tata SEZ with an investment of Rs 20,000 crore, along with a jetty-less floating terminal requiring an additional Rs 1,000 crore. The project is expected to generate employment for about 3,400 people.
A second project involves a 0.8 MTPA green ammonia plant at Paradip with an investment of Rs 34,000 crore and an estimated 3,600 jobs. The partners also plan to set up a methanol production facility with an investment of Rs 12,000 crore, creating another 600 employment opportunities.
Majhi said the agreement marks another step in Odisha’s plan to build one of India’s largest green hydrogen ecosystems.
He said the partnership follows the state’s recent $11 billion investment agreement with Middle East investors and will further strengthen Odisha’s industrial growth.
According to the chief minister, Odisha has approved 12 major green hydrogen and green ammonia projects so far, attracting investments of more than Rs 2 lakh crore and creating over 36,000 jobs.
He said the state is developing two green industrial corridors covering Paradip, Kendrapara and Gopalpur, with the aim of making Odisha a global centre for green steel production.
Majhi also invited IHI Corporation to establish a Japanese Green Engineering and Innovation Centre in Odisha and urged Mitsubishi Corporation to invest in green chemicals and sustainable fuels. Officials said representatives of Mitsubishi Gas Chemical Company expressed interest in collaborating on future green energy projects in the state.
The chief minister said Odisha has approved industrial projects worth more than Rs 10 lakh crore over the past one-and-a-half years following the launch of the ‘Utkarsh Odisha’ initiative.
IHI Corporation President and CEO Hiroshi Ide praised Odisha’s green energy policy and investment climate, saying the state has emerged as an attractive destination for large-scale green energy investments.
ACME Group Chairman and Managing Director Manoj Kumar Upadhyay said Odisha’s industry-friendly environment has made it one of the country’s preferred investment destinations.
The Japanese delegation included representatives from TRL Krosaki Limited, TYK Corporation, Indo Nissin Foods, ACME Group, IHI Corporation and Mitsubishi. Officials from the World Bank, International Finance Corporation (IFC) and Asian Development Bank (ADB) also attended the meeting.
