Bhubaneswar: In a significant boost to its global investment drive, the Odisha government on Friday signed a Memorandum of Cooperation (MoC) with Japan’s IHI Corporation and India’s ACME Group to develop large-scale green energy and advanced manufacturing projects in the state.
The agreement was formalised during an event, ‘Interaction with Japanese Business Delegates’, at Loka Seva Bhawan here in the presence of Chief Minister Mohan Majhi, Minister for Industries and Skill Development & Technical Education Sampad Chandra Swain, members from the World Bank Group and representatives from Japan.
The collaboration is expected to promote sustainable industrialisation and generate significant employment and economic opportunities by leveraging the state’s rich resources, robust infrastructure, and supportive policies alongside Japanese technological expertise.
The proposed projects will involve a cumulative investment of Rs 67,000 crore and generate employment opportunities for around 7,000 people in Odisha. This includes a 0.4 MTPA green ammonia project at Gopalpur–Tata SEZ with an investment of Rs 20,000 crore and employment potential of 3,400, along with an associated jetty-less floating terminal infrastructure involving an additional investment of Rs 1,000 crore. Further, a 0.8 MTPA green ammonia project at Paradip is proposed with an investment of Rs 34,000 crore and employment potential of 3,600, along with a methanol project involving an investment of Rs 12,000 crore.
The Japanese delegation included senior leadership from IHI Corporation, Mitsubishi Gas Chemical Company, Inc., and other leading Japanese enterprises present in Odisha. Senior leadership from ACME Group also participated in the programme, alongside officials from the Embassy of Japan, industry associations, and representatives from leading industries.
The Chief Minister described the partnership as a milestone in Odisha’s industrial journey. “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,” he said.
Industries Minister Swain emphasised the state’s investor-friendly ecosystem. “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,” he added.
Hiroshi Ide, Representative Director and President of IHI Corporation, expressed strong confidence in the collaboration. “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 Odisha government 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,” he stated.
Founder & Chairman of ACME Group Manoj Upadhyay highlighted the strategic alignment. “This partnership brings together policy support, cutting-edge technology, and project expertise to develop next-generation green energy solutions. Odisha’s ecosystem provides an ideal platform for projects that will strengthen India’s position in the global clean energy value chain,” he said.
According to a CMO release, the event 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, it added.
