ACME Group inks USD 3.5 Bn pact to develop green ammonia plant in Oman

ACME Group has recently signed a land agreement to establish a green ammonia project worth USD 3.5 billion at the Special Economic Zone at the Port of Duqm in Oman. The deal was signed with The Public Authority for the Special Economic Zones and Free Zones, a Government authority of Oman.

A memorandum of understanding (MoU) was signed by ACME Group and the Oman Company for Development of the Special Economic Zone at Duqm (Tatweer) in March this year to construct a large-scale plant for producing green hydrogen and green ammonia.

The plant will use 3 gigawatts peak (GWp) of solar and 0.5 GWp of wind energy to manufacture 2,400 tonnes of green ammonia every day with an annual production of around 0.9 million tonnes. This facility is being constructed for exporting green ammonia to Asia and Europe with USD 3.5 billion investment and would be operational by 2022, as per the statement.

The deal was signed in the presence of ACME Group’s founder and chairman Manoj K Upadhyay, and The Public Authority for Special Economic Zones and Free Zones chairman Ali Masoud Al Sunaidy, and vice-chairman Ahmed Hassan Al Dheeb Mahmoud Al Rawahi.

Upadhyay stated that the signing of the land deal will enable them to start pre-construction activities, and they plan to begin the construction in Oman after they commit to their first green hydrogen and green ammonia plant in Bikaner in India.

The Oman plant would be developed in phases, and the first phase is anticipated to be commissioned by the 2022-year end, he added.

ACME Group is in the course of putting the world’s first fully-integrated green hydrogen and green ammonia facility into service in Bikaner, Rajasthan. Green hydrogen production will utilize 5 MWp, extendable to 10 MWp, from the solar plant, which is an important part of the project.

To date, ACME Group has built a solar portfolio of a capacity of 6 GWp spread across 12 states in India.

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