The Gujarat government on Monday signed a memorandum of understanding (MoU) with Ocior Energy India Pvt Ltd for the production of green hydrogen and green ammonia with an investment of Rs 40,000 crore.
As per the MoU, signed in the presence of Gujarat Chief Minister Bhupendra Patel, Ocior Energy will invest Rs 40,000 crore in Kutch district of Gujarat to set up a facility to produce 1 million tonnes of green hydrogen and ammonia per annum, said an official release. It added that the renewable energy project will become operational by 2030 in two phases and it is expected to generate nearly 10,400 direct as well as indirect employment opportunities.
Ocior is a leading company in the field of green hydrogen and green ammonia started in Abu Dhabi Global Market, United Arab Emirates. The company aims to develop 4 GW capacity green hydrogen and green ammonia projects across the India, Middle East and North Africa (MENA) region, the release said.
Pingback: Indian semiconductor market to reach USD 55 billion by 2026: Deloitte