United Arab Emirates (UAE)-based green hydrogen and ammonia specialist Ocior Energy has signed a memorandum of understanding (MoU) to build a new production facility in the Indian state.
Ranjit Gupta-led Ocior Energy has committed a cumulative investment of INR 80,000 crore to build two green ammonia facilities of 1mtpa each in Andhra Pradesh and Gujarat.
Ocior Energy will invest INR 40,000 crore ($4.86 billion) to set up a 1 million ton per annum (mtpa) green ammonia plant in the Indian state of Andhra Pradesh. It has signed an MoU with the government of Andhra Pradesh on the proposed investment for setting up the green hydrogen and green ammonia project in the state.
Ocior Energy will also invest INR 40,000 crore in the Kutch district of Gujarat to set up a 1mtpa green ammonia facility. Built over two phases, it is expected to become operational by 2030.
The project is part of Ocior’s corporate strategy to develop 4GW of green hydrogen and green ammonia projects across the Middle East, North Africa (MENA) and India. Ocior is headquartered in the Abu Dhabi Global Market free zone.
Becoming a regional leader in hydrogen production is key to the UAE’s strategy to diversify its energy sector and reduce its reliance on oil and gas production. Its aim is to become a major hydrogen exporter, with its companies building out capacity both domestically and overseas.
The UAE is not the only country in the Gulf region to be investing heavily in hydrogen production. ACWA Power is developing an $8.5bn (SR31.88bn) green hydrogen project at Neom, a new city in Saudi Arabia, with plans for at least two additional similar hydrogen production facilities.