Maha inks MoU in Davos for $3 bn green ammonia plant BusinessPolitics(January 17, 2024 12:28 AM)

Mumbai, Jan 17

The Maharashtra government has signed a MoU with INOX Air Products group in Davos to set up a mega-plant to produce green ammonia in the state, an official said here on Tuesday.

The plant, with a capacity of 500,000 tonnes per annum, will be set up with a planned outlay of $3 billion, and will be commissioned within three to five years, though the location where it will come up is not yet clear.

The MoU was inked in the presence of Chief Minister Eknath Shinde, Industry Minister Uday Samant, Principal Secretary, Industry, Dr Harshdeep Kamble and INOX Group Promoter and Director Siddharth Jain, besides other officials.

The plant would produce liquid ammonia, which would be a climate-neutral Hydrogen carrier, and with its size and capacity, the new plant is poised to play a critical role in the global value chain for the sustainable and versatile green hydrogen.

As a primary alternative to fossil fuels, green hydrogen is a key to a secure energy future with a capability to decarbonise the economy and reduce carbon emissions substantially.

Shinde, currently in Davos on a four-day trip to the World Economic Forum meet, plans to sign MoUs worth over Rs 3.10 lakh crore across various sectors to benefit different regions of the state.

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