Finance
To strengthen Odisha’s position as a preferred destination for global industrial investments, the Odisha government today hosted a “Interaction with Japanese Business Delegates” and signed a Memorandum of Cooperation (MoC) with IHI Corporation and ACME Group to promote collaboration in clean energy, advanced manufacturing, and industrial development.
The MoC highlights the Government of Odisha, IHI Corporation, and the ACME Group’s combined commitment to exploring potential for large-scale renewable energy and industrial projects in the state, utilizing Odisha’s resource strength, industrial ecosystem, and governmental backing. The relationship is projected to facilitate technology transfer, boost sustainable industrialisation, and create considerable job and economic prospects.
The proposed projects will offer employment possibilities for around 7,000 persons in Odisha and require a total expenditure of ₹67,000 crore. This includes a 0.4 MTPA green ammonia project at Gopalpur-Tata SEZ with an investment of ₹20,000 crore and employment potential of 3,400, as well as a related jetty-less floating port infrastructure involving an additional ₹1,000 crore. A 0.8 MTPA green ammonia facility in Paradeep is proposed with an investment of ₹34,000 crore and employment potential of 3,600, as well as a methanol project with an expenditure of ₹12,000 crore.
The event was attended by Mohan Charan Majhi, Chief Minister of Odisha, Sampad Chandra Swain, Minister for Industries, Skill Development, and Technical Education, Chief Secretary and senior officials of the Odisha government, members of the World Bank Group, and distinguished Japanese representatives. The Japanese group included top executives from IHI Corporation, Mitsubishi Gas Chemical Company, Inc., and other prominent Japanese companies in Odisha. Senior executives from ACME Group attended the event, as did officials from the Japanese Embassy, industrial associations, and representatives from prominent industries.
The Interaction with Japanese Business Delegates served as a platform to deepen economic engagement between Odisha and Japan and to showcase the State’s rapidly expanding industrial ecosystem, world-class infrastructure and investor-friendly governance. Discussions focused on opportunities across sectors such as green hydrogen and green ammonia, advanced manufacturing, aerospace, shipbuilding, machinery, steel, chemicals, logistics, industrial infrastructure and renewable energy.
Speaking on the occasion, Chief Minister Mohan Charan Majhi said: “Japan has been one of India’s most trusted development and investment partners, recognised globally for technological excellence, innovation and long-term commitment. The signing of this Memorandum of Cooperation with IHI Corporation and ACME Group marks another important milestone in Odisha’s industrial journey. We welcome Japanese enterprises to partner with us in building globally competitive industries that create quality employment, foster technology transfer and contribute towards Samruddha Odisha 2036 and Viksit Bharat 2047.”
Industries Minister Sampad Chandra Swain said: “Odisha offers a highly conducive environment for global investors through progressive policies, robust infrastructure and responsive governance. The Government remains committed to providing seamless facilitation to ensure that partnerships such as this are translated into successful projects on the ground. We look forward to strengthening our long-term engagement with Japanese industry.”
Hiroshi Ide, Representative Director and President, IHI Corporation, said, “Odisha offers a compelling combination of industrial capability, strategic location, abundant natural resources and a strong commitment to sustainable industrial development. Through this Memorandum of Cooperation, we look forward to working closely with the Government of Odisha and ACME Group to explore opportunities that leverage Japanese technology and engineering excellence. We believe this partnership has the potential to contribute meaningfully to India’s clean energy transition while creating long-term industrial value, employment and economic growth in Odisha.”
Manoj Upadhyay, Founder & Chairman, ACME Group, said, “ACME Group is committed to building globally competitive clean energy ecosystems that support India’s energy transition and industrial growth. Our collaboration with the Government of Odisha and IHI Corporation brings together policy support, world-class technology and project development expertise to explore next-generation green energy solutions. We are confident that Odisha’s progressive industrial ecosystem and strong infrastructure will provide an excellent foundation for developing projects that create sustainable economic value, generate employment and strengthen India’s position in the global clean energy value chain.”
Representatives from IHI Corporation and ACME Group emphasized the strategic relevance of the relationship and expressed optimism about Odisha’s potential as a destination for future-oriented industrial investments. They praised the state government’s proactive approach to investment facilitation and its strategy for long-term industrial development.
Representatives from Mitsubishi Gas Chemical Company, Inc. and other Japanese corporations also took part in the interaction, meeting with the Odisha government to discuss potential collaboration opportunities across priority areas.
The plan is another key step towards enhancing Odisha’s long-standing economic ties with Japan. The collaboration, which combines Japanese technological expertise with Odisha’s industrial strengths and strategic location, is expected to accelerate investments in clean energy and advanced manufacturing while also creating new opportunities for MSMEs, ancillary industries, local enterprises, and skilled youth throughout the state.
