Bhubaneswar: In a major boost to Odisha's green energy ambitions, the state government on Friday signed a Memorandum of Cooperation (MoC) with Japan's IHI Corporation and ACME Group to develop three large-scale green energy projects involving an investment of Rs 67,000 crore and generating 7,600 employment opportunities.

The agreement was signed at Lok Seva Bhawan in Bhubaneswar during an interaction between Chief Minister Mohan Charan Majhi and a high-level Japanese business delegation.

Addressing the gathering, the Chief Minister said Odisha's next phase of industrial growth would be driven by technology, innovation and the green economy, reaffirming the state's vision of becoming a global green energy hub.

"The next chapter of Odisha's industrial development will be powered by advanced technology, innovation and sustainable growth. Our goal is to transform Odisha into a global green hub," Majhi said.

Three green energy projects planned

Under the agreement, ACME Group and IHI Corporation will jointly develop three major green energy projects in Paradip and Gopalpur.

The projects include:

• A 0.4 MTPA Green Ammonia Plant at Gopalpur with an investment of Rs 20,000 crore, expected to generate 3,400 jobs. An additional Rs 1,000 crore will be invested in a jetty-less floating terminal infrastructure.
• A 0.8 MTPA Green Ammonia Plant at Paradip with an investment of Rs 34,000 crore, creating 3,600 jobs.
• A 0.1 MTPA Green Methanol Plant at Paradip with an investment of Rs 12,000 crore, expected to generate 600 jobs.

Collectively, the three projects will attract investments worth around Rs 67,000 crore and create 7,600 direct employment opportunities.

Focus on green hydrogen ecosystem

The Chief Minister highlighted Odisha's ambition to establish one of India's largest green hydrogen ecosystems. He said the state has already approved 12 major green hydrogen and green ammonia projects, expected to bring investments exceeding Rs 2 lakh crore and create more than 36,000 jobs.

He also noted that two dedicated green industrial corridors are being developed across Paradip, Kendrapada and Gopalpur, which are expected to strengthen Odisha's position as a global hub for green steel production.

Japanese companies praise Odisha

Representatives from IHI Corporation, Mitsubishi Gas Chemical Company, and ACME Group lauded Odisha's investor-friendly policies and green energy roadmap.

IHI Corporation President and CEO Hiroshi Ide praised the state's progressive energy policy and expressed confidence that Odisha offers an ideal platform for Japanese investments in clean energy.

ACME Group Chairman and Managing Director Manoj Kumar Upadhyay described Odisha as one of the most attractive destinations for green energy investments, citing its strategic location and export potential to Japan.

The Chief Minister also invited IHI Corporation to establish a Japanese Green Engineering and Innovation Centre in Odisha and encouraged Mitsubishi Corporation to invest in green chemicals and sustainable fuels.

Industrial growth gathering momentum

Majhi said Odisha has entered its "second industrial revolution" following the Utkarsh Odisha initiative launched last year. Over the past 18 months, the state government has approved industrial projects worth more than Rs 10 lakh crore, with industrialisation expanding across 29 districts.

He added that the government aims to ensure industrial development reaches every district through inclusive and sustainable growth.

The event was attended by Industries Minister Sampad Chandra Swain, Chief Secretary Anu Garg, senior government officials, representatives of Japanese companies, and delegates from the World Bank, International Finance Corporation (IFC) and Asian Development Bank (ADB).