Latest news with #ITOCHU
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Business Standard
a day ago
- Business
- Business Standard
L&T Energy, Japan's ITOCHU to develop green ammonia project in Gujarat
Homegrown L&T Energy GreenTech Ltd and Japan-based ITOCHU Corporation have joined hands to develop a green ammonia project of 300 kilo tonne per annum (KTPA) capacity in Gujarat, to target opportunities in the maritime sector. The project will come up over a land parcel acquired by parent Larsen & Toubro (L&T) at Kandla in Gujarat last year, L&T Energy GreenTech Ltd (LTEG) said in a statement on Wednesday. As per the statement, LTEG has entered into a Joint Development Agreement with ITOCHU Corporation of Japan to develop and commercialise a 300 KTPA green ammonia project at Kandla in Gujarat. "The latest collaboration supports LTEG's strategic vision to establish a presence across the green energy value chain and complements ITOCHU's initiatives to introduce low-carbon ammonia as a zero-emission marine fuel," LTEG said. 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, it said. "The partnership with ITOCHU reflects L&T's larger vision of enabling a cleaner, greener future through sustainable business focus," Subramanian Sarma, Deputy Managing Director & President, L&T, said. A wholly-owned subsidiary of the USD 30 billion Larsen & Toubro (L&T), L&T Energy GreenTech Ltd (LTEG) is committed to delivering sustainable energy solutions across the green hydrogen value chain. The company offers integrated solutions through advanced technology, strategic partnerships, and dedicated R&D.
Time of India
2 days ago
- Business
- Time of India
L&T partners with Japan's ITOCHU for developing green ammonia project in Gujarat
L&T Energy GreenTech has entered into an agreement with 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. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program 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. Live Events 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.
Business Upturn
2 days ago
- Business
- Business Upturn
L&T Energy GreenTech partners with ITOCHU to develop 300 KTPA green ammonia project in Gujarat
L&T Energy GreenTech Ltd (LTEG), a wholly-owned subsidiary of Larsen & Toubro (L&T), has joined hands with Japan's ITOCHU Corporation to develop and commercialize a 300 KTPA green ammonia project at Kandla, Gujarat. This strategic partnership marks a significant milestone in promoting sustainable energy solutions for the maritime sector. Under the Joint Development Agreement (JDA), LTEG and ITOCHU will collaborate on building the green ammonia plant, with ITOCHU planning to offtake the ammonia for bunkering applications in Singapore. This initiative aligns with both companies' commitment to decarbonization and low-carbon marine fuels. Last year, L&T acquired a large land parcel at Kandla to strengthen its footprint in green hydrogen and green ammonia projects. The new collaboration further supports LTEG's vision to create a comprehensive presence across the green energy value chain while complementing ITOCHU's efforts to promote zero-emission ammonia-based fuels. India's vast renewable resources and competitive electricity costs make it an ideal hub for green hydrogen production. The country's National Green Hydrogen Mission aims to achieve a production capacity of at least 5 MMTPA by 2030, attracting investments exceeding USD 100 billion. This initiative is poised to drive industrial innovation, generate green jobs, and enhance India's energy security. With the LTEG-ITOCHU partnership, India takes another step toward becoming a global leader in green hydrogen and sustainable maritime fuel solutions, contributing to a cleaner, low-carbon future. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Zawya
13-05-2025
- Business
- Zawya
Abu Dhabi deepens economic ties with Japan at a flagship Investment Forum in Tokyo
ADIO signs strategic agreements with ITOCHU Corporation and Mizuho Bank Abu Dhabi, United Arab Emirates – The Abu Dhabi Investment Office (ADIO) successfully concluded its flagship Abu Dhabi Investment Forum (ADIF) in Tokyo, building on growing economic ties between the UAE and Japan and accelerating shared ambitions in future-focused industries. The Tokyo forum marked the event's debut in Japan, following previous editions held in London, Beijing and Shanghai. Hosted in partnership with the Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Global Market (ADGM), the event convened senior Japanese government officials, institutional investors and private sector leaders, along with an Abu Dhabi delegation led by His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED and ADGM, comprising Abu Dhabi Customs, Abu Dhabi Chamber of Commerce and Industry (ADCCI), KEZAD and Hub71, as well as representatives from Mubadala, Abu Dhabi Airports, HSBC, ADX and various private sector institutions. As bilateral discussions progress towards a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Japan, ADIF Tokyo served as a timely platform to align strategic priorities and unlock cross-border collaboration across priority sectors, including technology, life sciences, real state and clean energy. Discussions at the forum reinforced Abu Dhabi's position not only as a destination for capital, but also as a global gateway to high-growth markets across the Middle East, Africa and South Asia. Delivering the keynote address, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED and ADGM, articulated Abu Dhabi's strategic vision to become a diversified, export-driven economy, powered by innovation, growth in non-oil sectors and an investor-centric policy landscape. His Excellency underscored the emirate's transformation into a global platform for knowledge-based industries and future-defining technologies. His Excellency Shihab Al Faheem, Ambassador of the United Arab Emirates to Japan, reaffirmed the deep-rooted ties between the two nations and highlighted shared values of pragmatism, foresight and mutual respect as pillars of a robust, forward-looking partnership. The Ambassador emphasised the importance of collaboration across emerging fields, such as smart infrastructure, sustainable urban development and AI-powered healthcare. During the forum, ADIO signed several strategic agreements to accelerate Japanese investments into Abu Dhabi and strengthen commercial cooperation. ADIO partnered with ITOCHU Corporation, a leading Japanese general trading company, to support the expansion of its portfolio companies into Abu Dhabi. Meanwhile, an agreement with Mizuho Financial Group, one of Japan's predominant bank holding companies, aims to expedite investor access to opportunities across the emirate's priority sectors. His Excellency Badr Al-Olama, Director General of ADIO, said: 'ADIF Japan marks a significant step forward in deepening the economic partnership between Abu Dhabi and Japan. With a business environment defined by its stability, agility and forward momentum, Abu Dhabi offers Japanese investors a trusted platform to grow and scale with confidence. This forum lays the foundation for more dynamic partnerships, poised to unlock long-term value for both economies.' The UAE has been Japan's leading Gulf trading partner for over a decade, with non-oil bilateral trade reaching $17.7 billion in 2024. Over the past five years, the UAE's investments in Japan have more than doubled, ranking the country among Japan's top investors, while the UAE attracts over 80% of Japanese investments in the Middle East.
Al Etihad
12-05-2025
- Business
- Al Etihad
ADIO and ITOCHU Corporation partner to scale investments into Abu Dhabi's high-growth economy
12 May 2025 10:09 ABU DHABI (ALETIHAD)Abu Dhabi Investment Office (ADIO) and ITOCHU Corporation (ITOCHU), one of Japan's most prominent trading and investment firms, have entered a strategic agreement to support the expansion of ITOCHU's portfolio companies into Abu during the Abu Dhabi Investment Forum (ADIF) in Tokyo, the partnership aims to facilitate the market entry and scale-up of ITOCHU's portfolio companies in Abu Dhabi's priority sectors, including advanced manufacturing, agri-tech, clean and renewable energy, healthcare, information and communications technology (ICT), and logistics. The collaboration will also identify opportunities for co-investment and the joint ventures with Abu Dhabi investors that drive innovation and sustainable economic growth across the portfolio companies will benefit from tailored, end-to-end support by ADIO to establish and expand their operations in Abu Dhabi. In parallel, the collaboration will foster knowledge exchange initiatives and capacity-building programmes designed to accelerate the development of Emirati talent and resilient value chains across the emirate's priority agreement builds on ITOCHU's growing role in advancing industrial innovation and supporting the UAE Net Zero 2050 strategic initiative. In 2023, the company partnered with EMSTEEL Group and AD Ports Group to enter into a feasibility study for an integrated low-carbon iron supply chain in Abu Dhabi, reinforcing the emirate's leadership in sustainable industrial Al Olama, Director General, ADIO said, "Our collaboration with ITOCHU reflects the confidence of investors in Abu Dhabi as ambition for a global platform for growth. We are connecting ambitious Japanese investors with opportunities emerging across Abu Dhabi's priority sectors. More broadly, this partnership bolsters the strength of cooperation between Japan and Abu Dhabi's private sectors, transforming alignment into action for long-term partnership."Kenji Otsuka, CEO for Middle East Bloc, ITOCHU Corporation, said, "Abu Dhabi presents a compelling platform for expansion, combining progressive regulations, advanced manufacturing and a clear vision for sustainable economic development. Through this partnership, we aim to support our portfolio companies in capturing the opportunities Abu Dhabi offers across critical sectors while enabling ITOCHU to deliver tangible growth for our partners and contribute to the success of Abu Dhabi's economic transformation." The partnership reflects the ADIF's critical role in facilitating strategic collaboration and economic development. By convening global leaders, investors and family offices, the fourm provides a platform for the formation of impactful partnerships that foster innovation, strengthen economic ties and create mutually beneficial opportunities that support long-term growth. Aligning global investment with strategic priorities across innovation and advanced industries, the ADIO–ITOCHU partnership is set to play a pivotal role in accelerating the emirate's economic diversification and growth.
