The Odisha Government has signed a Memorandum of Cooperation (MoC) with ACME Group and Japan’s IHI Corporation for a proposed investment of ₹67,000 crore to accelerate green energy development, technology transfer and sustainable industrialisation in the state.
The agreement was signed on Friday during Chief Minister Mohan Charan Majhi’s meeting with a high-level Japanese business delegation in Bhubaneswar. The partnership aims to explore opportunities for developing large-scale clean energy and industrial projects by leveraging Odisha’s natural resources, industrial ecosystem and investor-friendly policies.
The announcement comes a day after Prime Minister Narendra Modi held bilateral talks with Japanese Prime Minister Sanae Takaichi in New Delhi, highlighting the growing strategic cooperation between India and Japan in areas such as clean energy, advanced manufacturing and sustainable infrastructure.
According to the state government, the collaboration reflects the shared commitment of Odisha, ACME Group and IHI Corporation to promote green industrial development while strengthening technology partnerships between India and Japan.
Chief Minister Majhi said Odisha is working towards establishing one of India’s largest green hydrogen ecosystems and positioning itself as a major hub for future-ready clean energy industries.
He noted that the latest agreement follows the recently announced USD 11 billion investment commitment from Middle Eastern investors, further strengthening Odisha’s industrial growth roadmap and attracting global investment into the state’s green economy.
The Chief Minister also revealed that Odisha has already approved 12 major green hydrogen and green ammonia projects, expected to attract investments exceeding ₹2 lakh crore and generate more than 36,000 employment opportunities across the state.
To support this vision, the government is developing two green industrial corridors covering Paradip, Kendrapara and Gopalpur. These corridors are expected to strengthen Odisha’s position as India’s leading steel-producing state while supporting its ambition to emerge as a global hub for green steel manufacturing through clean hydrogen-based industrial processes.
The partnership with ACME Group and IHI Corporation is expected to accelerate technology transfer, promote low-carbon industrial development and contribute to India’s broader clean energy transition while enhancing Odisha’s role in the global green manufacturing value chain.
Disclaimer: This report has been editorially prepared using publicly available information and agency inputs. While every effort has been made to ensure accuracy, unintentional errors or omissions may occur. Readers are encouraged to verify critical information from official sources.
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