Six Japanese Firms Eye Investment in ACME's Green Ammonia Plant in Odisha

Six Japanese companies—IHI Corporation, Hokkaido Electric Power, Mitsubishi Gas Chemical, Mitsui O.S.K. Lines, Mizuho Bank, and Tokyo Century—have signed an MoU to explore investments in ACME Group's green ammonia facility in Odisha. The plant, expected to start production by 2030, aims to produce 400,000 tonnes of green ammonia annually. The ammonia will be transported to Japan for use by power generation firms and chemical manufacturers. The initiative supports Japan’s decarbonisation goals by promoting green ammonia as a clean energy source. The firms plan to establish a special purpose company (SPC) to oversee production, transport, and investment, contributing to a carbon-neutral society.