Odisha signs ₹67,000 crore MoC with Japan's IHI and ACME for green ammonia projects
Odisha on Friday signed a Memorandum of Cooperation (MoC) with the ACME Group and Japan’s IHI Corporation for multiple clean energy and industrial projects, with a total investment of ₹67,000 crore. The agreement aims to promote collaboration in green energy, advanced manufacturing, and industrial development, leveraging Odisha's resources and policy support.
The MoC was signed in the presence of Chief Minister Mohan Charan Majhi and Industries Minister Sampad Chandra Swain, along with senior officials from IHI Corporation, Mitsubishi Gas Chemical Company, and the World Bank Group. The projects are expected to generate employment for about 7,000 people, according to a statement from the state's Industries Department.
The proposed projects include a 0.4 million tonnes per annum (MTPA) green ammonia project at Gopalpur–Tata SEZ with an investment of ₹20,000 crore and employment potential of 3,400. Additionally, a jetty-less floating terminal infrastructure associated with this project will involve an investment of ₹1,000 crore. A second 0.8 MTPA green ammonia project at Paradip is planned with an investment of ₹34,000 crore and employment potential of 3,600. A methanol project with an investment of ₹12,000 crore is also part of the MoC.
The collaboration is expected to facilitate technology transfer, promote sustainable industrialisation, and create economic opportunities for micro, small, and medium enterprises (MSMEs), ancillary industries, and skilled youth in the state. The government highlighted that the MoC strengthens the economic partnership between Odisha and Japan, combining Japanese technological expertise with Odisha's industrial strengths and strategic location.
Chief Minister Majhi welcomed Japanese enterprises, stating, “Japan has been one of India’s most trusted development and investment partners, recognised globally for technological excellence, innovation and long-term commitment. The signing of this Memorandum of Cooperation with IHI Corporation and ACME Group marks another important milestone in Odisha’s industrial journey.”
This announcement comes a day after Adani Enterprises and the UAE’s International Holding Company (IHC) Group signed a memorandum of understanding with Odisha for projects including an alumina refinery, aluminum smelter, and power plant, marking the state's largest Foreign Direct Investment (FDI) deal.
