The Indian ACME Group and Japan's IHI Corp will form a joint venture to develop one of India's largest green-ammonia projects, located in the state of Odisha in the east.

The companies have not disclosed the exact details of their investment. However, IHI will be acquiring a 30% stake, and ACME will keep the remaining 70%.

Why it's important

India is trying to establish itself as the global hub for green ammonia and derivatives such as green hydrogen. Large projects are yet to get off the ground due to financial constraints and a lack in incentives from state governments.

IHI Corp and Acme have already completed the front-end design of the project, which aims to produce up to 0.4 million tonnes per year.

CONTEXT

Green ammonia can be used as a fuel or feedstock in the energy and industrial sectors to help decarbonise them.

According to the companies, the green ammonia produced in the joint venture is expected to be sold into Japanese industries such as power generation and chemicals.

By the Numbers

India aims to achieve net-zero emission by 2070, and 500 gigawatts of renewable energy by 2030.

Mission Possible Partnership's report shows that India's $89 billion clean industrial project pipeline is experiencing funding bottlenecks. Only one project reached a final investment decision within the first six-month period of 2025. Reporting by Yagnoseni das in Bengaluru, editing by Vijay Kishore

(source: Reuters)