CHENNAI: Tamil Nadu on Monday signed 60 MoUs with multiple companies to bring in Rs 1.25 lakh crore worth of investments and generate 75,000 jobs across sectors.
The bulk of the deal went to Thoothukudi district which managed to attract Rs 82,674-crore investments in green hydrogen and green ammonia production at the Tamil Nadu Investors' First Port of Call - Investment Conclave July '22 held in Chennai.
Chief Minister MK Stalin said on Monday that the huge investment gives the southern district the chance to emerge as a hub in the renewable-energy sector.
Of the total investment planned in Thoothukudi, Rs 52,474 crore is from Gurugram-based ACME Green Hydrogen and Chemicals for manufacturing green ammonia and green hydrogen, and setting up solar plants.
The huge investment in green hydrogen sector comes at a time when the State Industries Department is planning to frame a draft policy in line with the Union government's national green hydrogen policy. The Centre's policy targets production of five million tonnes of green hydrogen by 2030.
ACME Group founder Manoj Kumar Upadhyay said the plant will be the largest in India for manufacturing green ammonia and green hydrogen. "The reason we chose the district is due to its closeness to the port. Also, the land parcel there is huge," Upadhyay said.
Pooja Kulkarni, MD and CEO of Tamil Nadu's investment promotion agency, Guidance, said the project is in its initial stage. "We have been holding talks with the ACME officials for the last five months. There have been multiple site visits. The land parcel requirement is around 30,000 acres and dry lands are likely to be leased to ensure that farmers who are in distress due to lack of rain will get compensation. To meet the water requirement, a desalination plant will also be set up along the coast," she said.