L&T partners with Japan's ITOCHU for developing green ammonia project in Gujarat
ITOCHU Corp
. of
Japan
to develop and commercialize a
green ammonia
project in Gujarat, the company announced.
L&T Energy GreenTech is a wholly owned subsidiary of Larsen & Toubro Ltd.
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LTEG has signed a
Joint Development Agreement
with ITOCHU Corporation of Japan to develop and commercialise a 300 KTPA green ammonia project at Kandla in Gujarat.
"Under the agreement, LTEG and ITOCHU will collaborate on the development of the green ammonia facility, with ITOCHU planning to offtake the product for bunkering applications in Singapore," the company said in a release.
"With this collaboration, Kandla, located on the west coast of India, will become the principal production centre of green ammonia for ITOCHU's bunkering operations in Singapore," Hiroyuki Tsubai, President of Machinery Company of ITOCHU Corporation, said.
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Through this joint development with one of the largest and most respected companies in India's private sector, L&T Group, our initiatives to introduce low-carbon ammonia to the maritime sector as an alternative zero-emission fuel will be reinforced, he added.
"The partnership with ITOCHU reflects L&T's larger vision of enabling a cleaner, greener future through sustainable business focus," Subramanian Sarma, Deputy MD & President, L&T, said.
Last year, L&T acquired a sizeable land parcel at Kandla for the development of
green hydrogen
and green ammonia projects. This agreement supports the company's aim to establish a presence across the green energy value chain.
India's National Green Hydrogen Mission envisions a production capacity of at least 5 MMTPA by 2030, attracting investments exceeding USD 100 billion.
Shares of Larsen & Toubro Ltd. were trading at Rs 3,711.00 per scrip as on 12:41 PM, Wednesday on BSE.
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