ACME Group to set up a green hydrogen project at Tata Steel SEZ’s Gopalpur Industrial Park

Tata Steel SEZ and ACME Clean Energy sign an MOU for the project

The total investment in this project by ACME Group is estimated to be Rs 27,000 crore, which will be invested in phases

This will be the first green hydrogen project of the state and east coast of India

This will be the largest single location green hydrogen and its derivatives manufacturing facility in the country

Bhubaneswar: Tata Steel Special Economic Zone Limited (TSSEZL) and diversified renewable energy company ACME Group today signed a Memorandum of Understanding (MoU) here to establish 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 and also east coast of India. 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), located in Ganjam district of Odisha, 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 Manikanta Naik, Managing Director, TSSEZL, and Sandeep Kashyap, Chief Operating Officer, ACME Group, in the presence of Shri Hemant Sharma, IAS, Principal Secretary, Industries Department, Government of Odisha and Chairman, Odisha Industrial Infrastructure Development Corporation (IDCO) & Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), and Mr Kalyan Mohanty, Executive Director, IPICOL.

Hemant Sharma, IAS, Principal Secretary, Industries Department and Chairman, IDCO & IPICOL, Government of Odisha, said, ” 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.”

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.

Manikanta Naik, Managing Director, Tata Steel Special Economic Zone Limited, 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 would also like to thank the government of Odisha for its industry-friendly policies and incentives that are attracting investments to the state of Odisha.”

“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 100% subsidiary of Tata Steel, is developing its flagship industrial park, Gopalpur Industrial Park (GIP), in Odisha’s 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, Manoj K. Upadhyay, Founder and Chairman, ACME Group, said, “We would like to express our gratitude to the Chief Minister of Odisha, Shri Naveen Patnaik, the Department of Industries, the Government of Odisha, and other stakeholders for their support to ACME Group’s Green Hydrogen and Green Ammonia project in the state. We have signed MoU with Tata Steel Special Economic Zone Limited (TSSEZL) to set up the facilities. We also thank the Union Minister for Power, New and Renewable Energy, Shri R K Singh, and the Ministry of New and Renewable Energy for their constant support and encouragement to pursue the Green Hydrogen and Green Ammonia project, which will make India a global hub for Green Hydrogen and its derivatives.

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. Japan’s IHI signed a preliminary agreement during the summit to invest in a green energy project in Odisha.”

There are five different industrial units already operating in Gopalpur Industrial Park including Tata Steel Mining Limited, Tata Consumer Products Limited, Anadrone Systems Private Limited, East Coast Overseas Private Limited, and Odimet Resources Private Limited.

Besides, a Technical Ammonium Nitrate Complex by Deepak Fertilisers & Petrochemicals Corporation Limited, and one L-CNG Conversion Unit by GAIL Gas Limited are being established in the park.