Inox Air Products has signed an MoU with the Maharashtra government for establishing the state's first Green Ammonia Plant with a capacity of 500,000 MTPA and a planned outlay of $3 billion.

The project is aimed to be commissioned in a 3-5 years timeline, the company said in a statement.

The plant would produce Liquid Ammonia, which would be a climate-neutral Hydrogen carrier.

The MoU was signed at the Maharashtra pavilion which the state has set up to promote Maharashtra as an investment decision at the World Economic Forum Annual Meeting.

Those present included Maharashtra Chief Minister Eknath Shinde, Industries Minister Uday Samant, Principal Secretary, Industries and Mining Harshdeep Kamble, and Siddharth Jain, Promoter and Director, INOX Group.