India’s INOX Air Products signs MoU with Maharashtra government

(Reuters) – Industrial and medical gases manufacturer INOX Air Products said on Tuesday that it has signed a memorandum of understanding with the government of Indian state Maharashtra for a green ammonia plant, which has a planned outlay of $3 billion.

The project is aimed to be commissioned in 3 to 5 years and would be used to produce 500,000 million metric tons per annum(MTPA) of liquid ammonia, the privately-held company said.

INOX Air Products is a manufacturer of industrial and medical gases and has about 45 operating locations in India.

Torrent Power <TOPO.NS>, which generates thermal, solar and wind power, recently signed a similar agreement with the Gujarat government to create green hydrogen and ammonia manufacturing plants.

(Reporting by Angela Christy in Bengaluru; Editing by Shweta Agarwal)