Plans investment of $3.5 billion over the next three years
Gurugram, August 23, 2021: ACME Group today announced signing of a land agreement to set up one of the world’s largest green ammonia projects at Special Economic Zone at Port of Duqm in Oman. The agreement was signed with The Public Authority for Special Economic Zones and Free Zones, a Government authority of Oman.
The agreement was signed in the presence of Mr. Manoj K Upadhyay, Founder & Chairman, ACME Group and H.E. Dr. Ali Masoud Al Sunaidy, Chairman and H.E. Ahmed Hassan Al Dheeb – Mahmoud Al Rawahi, Vice Chairman of The Public Authority for Special Economic Zones and Free Zones.
Mr. Manoj K Upadhyay, Founder & Chairman, ACME Group said, “The signing of land reservation agreement will allow us to kick start pre-construction activities. We have hired environmental consultants and owner’s engineers Black & Veatch and we plan to start the construction at Oman as soon we commission our first green hydrogen and green ammonia plant at Bikaner in India. The plant in Oman would be developed in phases and the first phase is likely to be commissioned by end of 2022.”
In March 2021, The Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer) and ACME Group signed a memorandum of understanding (MoU) to set up a large scale facility to produce Green Hydrogen and Green Ammonia. The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy to produce 2,400 TPD of green ammonia with an annual production of approx. 0.9 million tons. This would be the first facility of this scale to be operational by 2022. The facility is being built to export green ammonia to demand centres like Europe and Asia with an investment of approx. $3.5 billion.
ACME Group is in the process of commissioning the world’s first integrated green hydrogen and green ammonia plant in Bikaner, India. Green hydrogen will be produced using 5 MWp, expandable to 10 MWp, from the solar plant, which is an integral part of the project.
ACME Group has built a solar portfolio of 6 GWp. Of this, the Company currently holds a portfolio of 5.25 GWp that includes 2.2 GWp of operational capacity and another 3.05 GWp is under construction. These are spread across 12 States in India.
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