Tata Steel Special Economic Zone Ltd and ACME Group on Friday signed a memorandum of understanding here to establish a Rs 27,000-crore green hydrogen and ammonia project at the Gopalpur Industrial Park in Odisha’s Ganjam district, officials said.
According to the agreement, ACME Clean Energy Pvt Ltd will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park. “The total investment in the project would be Rs 27,000 crore, which will be made in phases,” an official said. The MoU was signed by TSSEZL Managing Director Manikanta Naik, and ACME Group Chief Operating Officer Sandeep Kashyap in the presence of Odisha’s industries secretary Hemant Sharma and other senior officers.
“We envision Odisha as the hub of green hydrogen and green ammonia and a leader in the green fuel economy. The state government is firmly committed to green energy, recognising it as the fulcrum of our future. To catalyze this vision, we’re offering best-in-class incentives,” Sharma said. The state government’s policy is a “testament to its dedication towards a sustainable and prosperous future” he said. ACME Group plans to set up a nearly 1.3 MTPA green ammonia production facility in Gopalpur. This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable energy.
The green ammonia produced at this facility will be exported to markets in the west and east through the existing Gopalpur Port facility, which is near the project site, another official said. The utility corridor between Gopalpur Industrial Park and Gopalpur Port provides for smooth logistics and pipeline connectivity, he said. With plug-and-play infrastructure, multi-modal logistics connectivity, ready environmental clearance and a clear land title, Gopalpur Industrial Park is “fast emerging as the preferred investment destination in India,” Naik said.
TSSEZL, a 100 per cent subsidiary of Tata Steel, is developing the park to make it an emerging manufacturing hub for both domestic and export-oriented industries. ACME Group Founder and Chairman Manoj K Upadhyay said, “We would like to express our gratitude to the state and central governments for their support to our project in the state.” The group mentioned that this project will enable it to “offer make in India green hydrogen and green ammonia to domestic and international markets at a competitive price”
“We are delighted to announce the successful outcome of the recently held Invest Odisha Summit in Tokyo, led by the Chief Minister of Odisha and his delegation, which will be realised through this project,” a statement said. Japan’s IHI signed a preliminary agreement during the summit to invest in a green energy project in Odisha, it added.
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