ACME Cleantech, Karnataka govt inks MoU for green hydrogen plant

09 Jun 2022 CW Team

Gurugram-based ACME Cleantech Solutions Private Limited inked a Memorandum of Understanding (MoU) with the Karnataka government proposing to infuse Rs 51,865 crore in the state within five years for installing a green hydrogen and ammonia plant with an allied solar power plant in Mangaluru.

The firm proposes to invest Rs 5,300 crore in the first phase, and Rs 46,565 crore in the second phase. It has proposed to create 1,800 jobs, according to the MoU.

An MOU was inked with ACME Cleantech Solutions Pvt Ltd Group for a Rs 52,000 crores investment to set up a Hydrogen & Ammonia plant & allied Solar Power Plant in Mangaluru. The ease of doing business in Karnataka makes it appealing to investors.

The MoU said the Karnataka government would encourage ACME to obtain all necessary permissions, registrations, clearances, approvals, and incentives from the concerned department of the state government according to its prevailing policies, rules, and regulations.

Chief Minister Basavaraj Bommai, Karnataka Energy Minister V Sunil Kumar, and ACME Group's Vice-President Shashi Shekhar were among those present at the event.

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Also read: Govt announces new green hydrogen policy to cut down fossil fuel use

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