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AVAADA Group on Thursday said it has signed an agreement with Tata Steel Special Economic Zone Ltd (TSSEZL) to set up a green hydrogen and ammonia manufacturing unit in Odisha.
The unit will be set up at Gopalpur Industrial Park in Ganjam district in Odisha.
In a statement, AVAADA Group announced "an initiative to establish a cutting-edge green hydrogen and ammonia manufacturing unit in Odisha. This significant move comes in the wake of a Memorandum of Understanding (MoU) inked with Tata Steel Special Economic Zone Limited (TSSEZL)".
The company did not disclose financial details related to the proposed project.
The project is expected to generate around 1,600 direct and 4,000 indirect employment opportunities and aims to curtail nearly 2 million tonne of Co2 emissions annually.
AVAADA Group Chairman Vineet Mittal said, "The collaboration is geared towards fast-tracking the shift to green energy and bolstering India's ambition to emerge as a global green hydrogen manufacturing hub. The MoU is a crucial milestone in our journey towards the fruition of our green ammonia venture".
The group is an integrated energy conglomerate with a diverse portfolio that spans from solar ingot manufacturing to green ammonia production.
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