ACME Group and the Government of Karnataka signed an MoU to invest about 520 billion rupees ($6.70 billion) in the State to set up a Green Hydrogen & Green Ammonia project.
ACME Group will set up a 1.2 million tonnes/year Green Hydrogen & Green Ammonia plant associated with a captive solar power unit. The project would generate over 2,000 employment opportunities after the plant’s completion. The project is planned for between 2022 and 2027.
ACME Group has set up the world’s first integrated semi-commercial scale project for Green Hydrogen & Green Ammonia plant at Bikaner in Rajasthan.
ACME Group has also partnered with Norway-based Scatec ASA to build and operate a large scale green ammonia facility in the Duqm Special Economic Zone of Oman. The facility’s first phase is to produce 100,000 tonnes of green ammonia annually, which is to be expanded to 1.2 million tonnes per annum with about 3.5 GW of electrolyser capacity powered by 5.5 GWp of the solar power plant.
Shri Basavaraj Bommai, Chief Minister of Karnataka, said, “Karnataka has been successful in drawing highest Foreign Direct Investments among the States in the country. The FDI inflow during the last three quarters is testimony to this achievement.”
Shri Manoj Kr Upadhyay, Founder & Chairman ACME Group, said, “We are grateful to the Government of Karnataka for their vision in building the State as a Green Hydrogen hub and extending their full support to this project.”