ACME Group announced today it will establish a green methanol manufacturing facility in Odisha with a capacity of 200 kilotonne per annum. The project, to be set up in Kendrapada district through ACME Akshya Energy Pvt Ltd, is expected to create more than 1,100 jobs.
The facility is part of ACME’s green hydrogen business and will be developed in partnership with Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL). The company has identified Odisha as a key manufacturing destination due to its green energy ecosystem, port infrastructure and availability of biogenic feedstock.
Anil Taparia, Chief Operating Officer at ACME Green Hydrogen and Ammonia Business Unit, said Odisha’s supportive industrial policies and low-cost green power supply create favorable conditions for green methanol production at globally competitive costs.
ACME Group is already establishing multiple green hydrogen and ammonia projects in Odisha. The company is setting up one of India’s largest green ammonia facilities in Gopalpur through a joint venture with Japan-based IHI Corporation. Additionally, ACME is developing a 2,200 metric tonne per day green ammonia facility in Paradip after receiving six letters of award from Solar Energy Corporation of India under the SIGHT Scheme Mode-2A, Tranche-I. Under these agreements, ACME will supply 370,000 metric tonne per year of green ammonia to Indian fertiliser companies for 10 years.
The global green methanol market is projected to reach 6 to 12 million tonne per annum operational capacity by 2030, driven primarily by shipping decarbonisation and regulations such as FuelEU Maritime.