A group of leading Japanese companies – IHI Corporation, Hokkaido Electric Power, Mitsubishi Gas Chemical Company, Mitsui O.S.K. Lines, Mizuho Bank, and Tokyo Century Corporation – has signed a memorandum of understanding (MoU) to explore investments in a green ammonia project.
New Facility to Begin Operations by 2030
In collaboration with ACME Group, the consortium plans to develop a green ammonia production facility in Odisha, expected to begin operations by 2030. The facility will have an annual production capacity of 4,00,000 tons of green ammonia.
Supply to Japan for Clean Energy and Industrial Use
The green ammonia produced in Odisha will be transported to Japan, where power generation companies and chemical manufacturers will utilize it as a clean energy source.
Formation of Special Purpose Company
The six companies will contribute their technical and financial expertise. They will assess the feasibility of setting up a special purpose company (SPC) for ammonia production and investment.
Ammonia as a Key to Decarbonization
As the world moves toward clean energy, ammonia is emerging as a next-generation fuel. It has applications in power plants, shipping, and industry. As reported by projectstoday.com, the project aligns with global efforts to reduce carbon emissions and promote sustainable energy alternatives.
