ACME, IHI Form JV for 0.4 MnT Green Ammonia Plant in Odisha

15 Sep 2025 CW Team

Renewable energy firm ACME Group and Japan-based IHI Corporation have formed a joint venture to establish a 0.4 million tonnes (MnT) green ammonia project at Gopalpur in Odisha, a statement said on Wednesday.

The land for the project has been secured, and the Front-End Engineering Design (FEED) has been completed, the two companies said in a joint statement.

ACME Group and IHI Corporation had signed an initial Memorandum of Understanding (MoU) in 2023.

IHI Corporation holds a 30 per cent stake in the joint venture—ACME Clean Energy Private Limited—while ACME Group retains the remaining 70 per cent. The facility is expected to produce approximately 0.4 MnT of green ammonia annually upon completion.

This is one of the single-largest foreign collaborations in India’s green hydrogen and ammonia sector, the statement added, without disclosing financial details.

The project will be financed through a combination of external debt, sourced from Japanese Export Credit Agencies, International Financial Institutions, and equity from the joint venture partners.

“Odisha offers strategic advantages for energy and export opportunities. Together with IHI, we will build a future-ready ecosystem that strengthens energy security, generates employment, and contributes to the global fight against climate change,” said Manoj Kumar Upadhyay, Chairman of ACME Group.

The green ammonia produced will be primarily supplied to Japanese end users in the power and chemical sectors, supporting Japan’s long-term decarbonisation goals, the statement said.

Real Estate

05 May 2026

Dubai Real Estate Sales Reach AED48 Billion

Dubai’s real estate market recorded 13,977 sales transactions worth AED48 billion in April 2026, reflecting continued resilience across residential and commercial segments.According to a market update by fäm Properties, sales volume rose 3.5 per cent month-on-month compared to March, while total sales value increased by 10.7 per cent. The commercial sector, including offices and shops, recorded the strongest growth, with 561 transactions valued at AED4 billion, up 33.9 per cent year-on-year and 36.2 per cent month-on-month.Apartment sales rose 6.5 per cent month-on-month to 11,377 transacti..

Casagrand Launches 35-Acre Hyderabad Project

Casagrand has launched Casagrand Vybe, its largest residential project in Hyderabad, spread across 35 acres in Rajendra Nagar. The launch marks the company’s fifth residential rollout in 2026 and strengthens its expansion momentum in the city.As part of its Hyderabad growth strategy, Casagrand is adding 3.98 million sq ft of residential space to its portfolio. Since entering the Hyderabad residential market in 2023, the company has scaled its presence with projects across key micro-markets. In 2025, it launched four projects — Casagrand Evon, Casagrand Windsor Court, Casagrand Belair and C..

Bentley Event Spotlights AI Infrastructure

Bentley Systems recently hosted Illuminate Mumbai 2026, bringing together infrastructure leaders, policymakers, technology experts and academia to discuss how AI-driven engineering and digital twins can accelerate India’s journey towards Viksit Bharat 2047.The event focused on scaling intelligent and connected infrastructure ecosystems beyond digital adoption. Discussions covered the use of infrastructure AI, open data environments and digital twin technologies to improve project delivery, sustainability and long-term asset performance across key sectors.Kamalakannan Thiruvadi, Regional Exec..