IHI Corporation, Hokkaido Electric Power Co., Mitsubishi Gas Chemical Company, Mitsui O.S.K. Lines, Mizuho Bank, and Tokyo Century Corporation have signed a Memorandum of Understanding (MoU) to explore investment opportunities in a green ammonia production project currently under development in India (hereinafter referred to as "the Project").

In the Project, a new green ammonia production facility will be established in Odisha, eastern India by 2030, in collaboration with ACME Group (Note 1), a major renewable energy company in India. 

The facility aims to produce approximately 400,000 tons of green ammonia annually. This green ammonia will be safely and stably transported to Japan, catering to various domestic users such as power generation companies and chemical manufacturers.

Ammonia, a raw material for fertilizers and chemicals, is a next-generation clean energy source that does not emit CO2 during combustion. It has the potential to provide decarbonisation solutions in various fields, such as fuel utilisation in power plants and ships, with significant demand expected in the future.