INOX Air Products, a manufacturer of industrial and medical gases, announced on Tuesday the formalisation of a memorandum of understanding with the government of Maharashtra, India, for the establishment of a cutting-edge green ammonia plant, involving a substantial investment of $3 billion.
The ambitious project is slated to be operational within a timeframe of 3 to 5 years and is strategically designed to yield an annual output of 500,000 million metric tons of liquid ammonia, as highlighted by the privately held company.
INOX Air Products, boasting an extensive network of approximately 45 operational facilities across India, is positioning itself at the forefront of advancements in the industrial and medical gases sector.
In a parallel development, Torrent Power, a key player in the energy landscape with expertise in thermal, solar, and wind power generation, recently inked a comparable agreement with the government of Gujarat. This partnership aims to spearhead the establishment of green hydrogen and ammonia manufacturing plants, contributing to the broader shift towards sustainable energy solutions in the region.