ADB, Japan back AM Green's renewable ammonia plant in Kakinada
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Asian Development Bank and Japan signed agreements with AM Green Ammonia to build a massive renewable ammonia plant in Kakinada.
- ✓ADB President Masato Kanda said, "Ammonia is used every day to produce the fertilizer that helps feed the world." This project uses renewable energy to lower emissions in India.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Asian Development Bank (ADB) and the Government of Japan have signed financing agreements with AM Green Ammonia (India) Pvt Limited to help build one of the world's largest plants to make ammonia using renewable energy in Kakinada in Andhra Pradesh, marking the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL).
"Ammonia is used every day to produce the fertilizer that helps feed the world," ADB President Masato Kanda, said in a release .
"This project changes how we make it. By using renewable energy instead of fossil fuels, India can produce it with far lower emissions and at a scale that can help reshape this industry. As the first investment under ACCEL, it also shows how ADB and Japan can turn energy security into practical investments in new markets and jobs."
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