An contract to develop a green ammonia factory and a renewable energy power plant in Kota, Rajasthan, was inked by the integrated energy platform Avaada Group and the department of industry and commerce of the state government of Rajasthan.
The MoU, which was signed as part of the investment promotion plan for the Investment Rajasthan Summit held in New Delhi, calls for an investment of Rs 40,000 crore and will create over 10,500 indirect jobs in addition to roughly 3,500 prospects for direct employment.
Vineet Mittal, Chair, Avaada Group, said, “The biggest advantage of green hydrogen is that it burns clean, leaving only water vapour behind. For industries that require high-temperature heat, such as foundries and glass and steelmakers, this could be ground-breaking as it will not only replace fossil fuels with renewable sources but also produce green ammonia and a substitute for gas.”
