Sembcorp inks MoUs with Odisha for green hydrogen plant, industrial park – EQ
In Short : Sembcorp has signed Memorandums of Understanding (MoUs) with Odisha to establish a green hydrogen plant and an industrial park. These projects aim to boost the state’s industrial infrastructure and promote sustainable energy solutions. The green hydrogen plant will contribute to reducing carbon emissions, while the industrial park is expected to attract investments, fostering economic growth and creating job opportunities in the region.
In Detail : Sembcorp Industries (Sembcorp), through its wholly-owned subsidiaries Sembcorp Green Hydrogen India Private Ltd (SGHIPL) and Sembcorp Development Ltd, has signed two non-binding Memoranda of Understanding (MOUs) with the Odisha Government on Friday.
These MOUs were signed by representatives of the State government and Sembcorp, in the presence of Singapore’s Minister for Transport and Second Minister for Finance Chee Hong Tat and Mohan Charan Majhi, Chief Minister of Odisha, along with other dignitaries, according to an official statement.
The MOUs exchange took place at the sidelines of the State visit of Tharman Shanmugaratnam, President of the Republic of Singapore to India.
The MOU signed with Industrial Promotion & Investment Corporation of Odisha Ltd stipulates that SGHIPL will explore the development of a production facility for green hydrogen and its derivatives, with an anticipated production capacity of 7,20,000 metric tonnes per annum. According to the statement, the facility is expected to generate over 2,000 employment opportunities during its operational phase.
Sembcorp Development Ltd has also signed a non-binding MOU with Odisha Industrial Infrastructure Development Corporation to assess the potential for the development of an industrial park in the State.
The signing of these MOUs is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2025.
