Bhubaneswar, July 3 (UDN): Odisha took a major step towards strengthening its economic partnership with Japan on Thursday by signing a Memorandum of Cooperation (MoC) with IHI Corporation and ACME Group to jointly explore large-scale investments in green energy, advanced manufacturing and industrial infrastructure.
The agreement was signed during an Interaction with Japanese Business Delegates hosted by the Odisha Government, reaffirming the state's growing reputation as a preferred destination for global investments and clean energy projects.
Under the proposed collaboration, projects worth nearly ₹67,000 crore are planned across Odisha, with the potential to generate around 7,000 direct employment opportunities.
The proposed investments include a 0.4 million tonnes per annum (MTPA) green ammonia project at Gopalpur Tata SEZ, involving an investment of ₹20,000 crore and expected to create nearly 3,400 jobs. The project will also include a jetty-less floating terminal with an additional investment of ₹1,000 crore.
Another major proposal involves setting up a 0.8 MTPA green ammonia plant at Paradip with an estimated investment of ₹34,000 crore, generating employment for around 3,600 people. In addition, a green methanol project with an investment of ₹12,000 crore has also been proposed as part of the collaboration.
The partnership is expected to facilitate technology transfer, accelerate the adoption of clean energy technologies and promote sustainable industrial development in Odisha. It also aims to strengthen the state's position as a key hub for green hydrogen, green ammonia and advanced manufacturing in eastern India.
The business interaction brought together senior representatives from the Odisha Government, Japanese industries, the Embassy of Japan, the World Bank Group, industry associations and leading industrial enterprises to explore opportunities across sectors such as renewable energy, aerospace, shipbuilding, steel, chemicals, logistics, industrial infrastructure and engineering.
Speaking on the occasion, Chief Minister Mohan Charan Majhi said the collaboration marks another milestone in Odisha's industrial growth journey and reflects the deepening economic ties between Odisha and Japan. He invited Japanese companies to partner with the state in creating globally competitive industries that promote innovation, technology transfer and quality employment.
Industries Minister Sampad Chandra Swain said Odisha continues to offer a favourable investment climate backed by progressive industrial policies, modern infrastructure and responsive governance. He reiterated the government's commitment to facilitating timely implementation of investment proposals.
Representatives of IHI Corporation and ACME Group expressed confidence in Odisha's industrial potential, highlighting the state's strategic location, abundant natural resources and investor-friendly ecosystem. They said the partnership would combine Japanese technological expertise with Odisha's industrial strengths to develop globally competitive clean energy projects.
Officials said the initiative is expected to boost ancillary industries, create opportunities for MSMEs and skilled youth, and support India's transition towards a low-carbon economy while further strengthening the long-standing economic partnership between Odisha and Japan.
