Indian industrial gases manufacturer INOX Air Products has signed a memorandum of understanding with the government of the Indian state Maharashtra for the development of a green ammonia production facility with a reported value of US$3 billion. The plant would be capable of producing 500,000 metric tonnes of liquid green ammonia per year, and commissioned within 3-5 years.

The signing follows a flurry of signings of agreements announced at the start of January between the state of Gujarat and 58 different companies in a range of industrial sectors, including energy and chemicals, valued collectively at US$86 billion. One of the most eye-catching of the pledges was with ArcelorMittal Nippon Steel India, valued at US$13.7 billion, for a green hydrogen project along with an integrated steel plant and an expansion of its existing steel manufacturing capacity in the state. Another major pledge came from NTPC Renewable Energy Limited, of US$8.4 billion for projects covering fuel cell electric vehicles, hydrogen/natural gas blending, and the production of green ammonia and methanol.

Torrent Power, for its part, pledged US$5.7 billion for a range of projects covering renewable power generation capacity, and green hydrogen and ammonia production plants, as well as distribution centres for the latter. The flurry of activity comes in the lead-up to national elections in India, and signal a future of rapidly developing green fuels, should the pledges come to fruition.