Japanese consortium explores investment and offtake from Acme’s hydrogen-based ammonia plant

Six Japanese companies have agreed to explore investment opportunities for a large-scale green ammonia plant in Odisha, India, being planned by Acme Group.

Last year, multinational company IHI Corporation signed a term sheet to import up to 400,000 tonnes from Acme’s project. Now, IHI has signed a Memorandum of Understanding with Hokkaido Electric Power, Mitsubishi Gas Chemical Company, Mitsui O.S.K. Lines (MOL), Mizuho Bank, and Tokyo Century Corporate.

Under a Memorandum of Understanding (MOU), the partners plan to create a robust ammonia value chain between India and Japan. Reportedly, the six companies will evaluate the establishment of a special-purpose company for ammonia production and investment participation.