Odisha Signs ₹67,000-Crore MoC with Japan’s IHI, ACME to Boost Clean Energy Sector

Bhubaneswar: Odisha’s push to emerge as a global clean energy and manufacturing hub received a significant boost on Friday as the state government signed a Memorandum of Cooperation (MoC) with Japan’s IHI Corporation and ACME Group to explore investments worth ₹67,000 crore in green ammonia, methanol and allied industrial infrastructure.

The agreement was signed during an interaction with a Japanese business delegation, reflecting Odisha’s growing engagement with global investors in clean energy, advanced manufacturing and sustainable industrial development.

Under the proposed collaboration, projects with a cumulative investment of ₹67,000 crore are expected to create nearly 7,000 jobs across the state. The investment plan includes a 0.4 MTPA green ammonia plant at Gopalpur-Tata SEZ with an investment of ₹20,000 crore, supported by a ₹1,000-crore jetty-less floating terminal. Another 0.8 MTPA green ammonia project has been proposed at Paradip with an investment of ₹34,000 crore, besides a ₹12,000-crore methanol project.

Speaking at the event, Chief Minister Mohan Charan Majhi said the partnership marks another important milestone in Odisha’s industrial transformation and reflects the confidence of global companies in the state’s investment ecosystem. He said the collaboration would help accelerate industrialisation, facilitate technology transfer and generate quality employment while contributing to the vision of Samruddha Odisha 2036 and Viksit Bharat 2047.

The Chief Minister also invited more Japanese companies to invest in Odisha, highlighting the state’s resource base, modern infrastructure and investor-friendly governance.

Industries Minister Sampad Chandra Swain said the government remains committed to providing seamless facilitation and policy support to ensure the timely implementation of major investment projects and strengthen Odisha’s long-term partnership with Japanese industries.

The business interaction highlighted investment opportunities across a range of sectors, including green hydrogen, green ammonia, advanced manufacturing, aerospace, shipbuilding, machinery, steel, chemicals, logistics, renewable energy and industrial infrastructure.

Representatives of IHI Corporation said Odisha’s strategic location, abundant natural resources and strong commitment to sustainable industrial development make it an ideal destination for future investments. ACME Group said the partnership would combine world-class technology with Odisha’s favourable industrial ecosystem to develop globally competitive clean energy projects.

The programme was attended by Chief Secretary Anu Garg, senior government officials, representatives of the World Bank Group, the Embassy of Japan, Mitsubishi Gas Chemical Company and other leading Japanese firms, along with industry representatives.

Officials said the collaboration is expected to strengthen Odisha’s industrial base while creating new opportunities for MSMEs, ancillary industries and skilled youth, further reinforcing the state’s position as a preferred destination for global investments.