Odisha Signs Landmark Green Energy Pact with Japanese Firms; ₹67,000 Crore Investment to Create 7,600 Jobs

Odisha has taken a major step towards becoming a global hub for green energy by signing a landmark Memorandum of Cooperation (MoC) with ACME Group and Japan’s IHI Corporation. The agreement is expected to bring investments worth ₹67,000 crore and generate around 7,600 employment opportunities through three large-scale green energy projects in Paradip and Gopalpur.

The agreement was signed in the presence of Chief Minister Mohan Charan Majhi during an interaction with a Japanese business delegation at the Lok Seva Bhawan Convention Centre in Bhubaneswar.

Addressing the gathering, the Chief Minister said Odisha’s next phase of industrial growth would be driven by technology, innovation, and the green economy. He reiterated the government’s vision of transforming Odisha into a “Global Green Hub” through advanced technologies and sustainable industrial development.

Under the agreement, the companies will collaborate with the state government to invest in clean energy and other industrial projects, facilitating technology transfer, environmentally sustainable industrialisation, and large-scale employment generation.

Three Major Green Energy Projects

The proposed investment includes three key projects:

• A 0.4 MTPA Green Ammonia Plant at Gopalpur with an investment of ₹20,000 crore, expected to create 3,400 jobs. An additional ₹1,000 crore will be invested in developing a jetty-less floating terminal infrastructure.
• A 0.8 MTPA Green Ammonia Plant at Paradip with an investment of ₹34,000 crore, generating around 3,600 employment opportunities.
• A 0.1 MTPA Green Methanol Plant at Paradip, involving an investment of ₹12,000 crore and creating approximately 600 jobs.

Odisha’s Green Hydrogen Vision

The Chief Minister highlighted Odisha’s ambitious plan to establish one of India’s largest green hydrogen ecosystems. He said the state has already approved 12 major Green Hydrogen and Green Ammonia projects, attracting investments exceeding ₹2 lakh crore and creating more than 36,000 jobs.

He further stated that two green industrial corridors are being developed around Paradip, Kendrapara, and Gopalpur, which are expected to position Odisha as a global leader in green steel production.

Majhi also noted that following a recent USD 11 billion investment agreement with Middle Eastern investors, the new partnership with Japanese companies marks another significant milestone in Odisha’s industrial growth journey.

Japanese Companies Express Confidence

Senior representatives of IHI Corporation, Mitsubishi Gas Chemical Company, and ACME Group praised Odisha’s investor-friendly policies and its commitment to clean energy.

Hiroshi Ide, President and CEO of IHI Corporation, commended the state’s green energy policy and said Odisha offers an ideal environment for large-scale investment in sustainable energy.

Representatives of Mitsubishi Gas Chemical expressed interest in collaborating with the state in the fields of green chemicals and sustainable fuels.

ACME Group Chairman and Managing Director Manoj Kumar Upadhyay described Odisha as one of the most attractive destinations for green energy investments, citing its favourable industrial ecosystem and strategic location, which would facilitate exports of green energy products to Japan.

Focus on Inclusive Industrial Growth

The Chief Minister said Odisha has approved industrial projects worth over ₹10 lakh crore during the past one-and-a-half years following the Utkarsh Odisha initiative. He added that industries are being promoted across 29 districts, with the government aiming to ensure inclusive industrialisation and balanced regional development.

The programme was attended by Industries Minister Sampad Chandra Swain, Chief Secretary Anu Garg, senior officials of the Odisha government, representatives of Japanese industries, and delegates from the World Bank, International Finance Corporation (IFC), and the Asian Development Bank (ADB).