2 hrs ago
Maharashtra Green Ammonia Project Faces Possible Cancellation
Maharashtra planned to build a large factory that would make green ammonia, a cleaner alternative to some fossil-fuel-based products.
The plan was agreed with INOX Air Products in 2024.
The factory was expected to make 500,000 metric tonnes each year.
INOX Air Products later said in a draft filing that it would not go ahead with a green ammonia project agreed with a state government.
The filing did not name Maharashtra, but a Moneycontrol report connected it to this project.
The company said the project did not appear commercially viable.
Green ammonia projects in India have also faced concerns about prices and delays in agreements to buy the product.
The proposed facility was intended to help reduce fossil-fuel use in Maharashtra’s industrial areas.
INOX Air Products reportedly decided not to proceed with Maharashtra’s proposed green ammonia project, citing commercial viability concerns.
The state and the company signed an MoU at the 2024 World Economic Forum summit in Davos.
The planned facility was designed to produce 500,000 metric tonnes of green ammonia annually.
The company’s October 5 draft prospectus disclosed it would not pursue a green ammonia project agreed with a state government, without naming Maharashtra.
India’s emerging green ammonia sector also faces reported challenges involving pricing, purchase agreements, grid connectivity and land allocation.
- Who
- INOX Air Products and the Maharashtra government.
- What
- A proposed green ammonia project may be cancelled after the company reportedly decided not to proceed.
- Where
- Maharashtra, India; the MoU was signed in Davos.
- When
- The MoU was signed at the 2024 World Economic Forum summit; the company’s draft prospectus was dated October 5.
- Why
- INOX Air Products cited commercial viability concerns.
Key facts
- Proposed investment
- $3 billion
- Planned annual capacity
- 500,000 metric tonnes of green ammonia
- Agreement
- A memorandum of understanding signed during the 2024 World Economic Forum summit in Davos
- Company rationale
- Commercial feasibility concerns, according to its draft prospectus
- Prospectus date
- October 5; the article does not specify the year
- SECI tender
- India’s first green ammonia tender covered 724,000 metric tonnes annually and was launched in 2024
- Reported sector hurdles
- Pricing and purchase-arrangement uncertainty, delays, grid connectivity and land allocation
Sources
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