Japanese consortium eyes investment in India’s green ammonia project

Japanese shipping giant Mitsui O.S.K. Lines (MOL) and five other Japanese companies have signed an agreement with Indian renewable energy firm ACME Group (ACME) to explore investment opportunities in a green ammonia production project in India.

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Under the agreement, a new green ammonia production facility will be established in the eastern Indian state of Odisha by 2030 in collaboration with ACME. The facility aims to produce approximately 400,000 mt/yr of green ammonia, which will be transported to Japan to serve domestic users such as power generation companies and chemical manufacturers.

While MOL has not disclosed whether any portion of the green ammonia will be allocated for bunkering, it stated that ammonia “has the potential to provide decarbonization solutions in various fields, such as fuel utilization in power plants and ships, with significant demand expected in the future.”

MOL also indicated that a special purpose company (SPC) may be established for the investment and manufacturing of the green ammonia production project. The other participating companies include IHI Corporation, Hokkaido Electric Power, Mitsubishi Gas Chemical, Mizuho Bank, and Tokyo Century Corporation.

By Tuhin Roy

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