The Business Bytes
TBB BUREAU
BHUBANESWAR, AUGUST 25, 2023
Tata Steel Special Economic Zone Limited (TSSEZL) and diversified renewable energy company ACME Group signed a Memorandum of Understanding (MoU) here on Friday to set up a green hydrogen and green ammonia project at the Gopalpur Industrial Park in Odisha, making it the first ever green hydrogen project of the state. This will be the largest single location green hydrogen and its derivatives manufacturing facility in the country.
Under the definitive agreement, ACME Clean Energy Private Limited (ACME Group) will acquire 343 acres of land in TSSEZL’s Gopalpur Industrial Park (GIP) in Ganjam, to set up a green hydrogen and its derivatives unit.
The total investment in this project by ACME Group is estimated to be Rs 27,000 crore, which will be invested in phases.
The MoU was signed between TSSEZL Managing Director Manikanta Naik and ACME Group Chief Operating Officer Sandeep Kashyap in the presence of State Industries Department Principal Secretary Hemant Sharma and IPICOL Executive Director Kalyan Mohanty.
ACME Group plans to set up a nearly 1.3 MTPA green ammonia production facility at GIP. This green ammonia will be produced from green hydrogen, and the production facilities will be powered by renewable power.
The green ammonia produced at this facility will be exported to markets in the west and east from the existing Gopalpur Port facility, which is near the project site. The utility corridor between Gopalpur Industrial Park and Gopalpur Port provides a dedicated corridor for smooth logistics and pipeline connectivity.
“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, recognizing it as the fulcrum of our future. To catalyze this vision, we’re offering best-in-class incentives. Our progressive policy is a testament to our dedication towards a sustainable and prosperous future,” said Hemant Sharma who is also the Chairman of IDCO and IPICOL.
Tata Steel Special Economic Zone Limited Managing Director Manikanta Naik said, “We are glad that with plug-and-play infrastructure, multi-modal logistics connectivity, ready environmental clearance, and a clear land title, Gopalpur Industrial Park, in a very short span since its inception, is fast emerging as the preferred investment destination of India.”
“We already have some valued clients operational in the industrial park and we are eagerly looking forward to a lot more investors coming forward, adding to the industrial progress of the region,” he added.
TSSEZL, a subsidiary of Tata Steel, is developing its flagship industrial park, Gopalpur Industrial Park (GIP), in Ganjam district. The company aims to develop the GIP as an emerging manufacturing hub for both domestic and export-oriented industries.
Commenting on the MoU, ACME Group Founder and Chairman Manoj K Upadhyay said, “This project will enable us 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 Hon’ble Chief Minister of Odisha and his delegation, which will be realized through this project.”
