SINGAPORE: Sembcorp Industries has teamed up with the Odisha government to develop a green hydrogen facility that will create over 2,000 jobs. On Friday, Jan 17, Sembcorp Green Hydrogen India and Sembcorp Development signed two non-binding memorandums of understanding (MOUs) with the state government of Odisha.
The planned facility will produce 720,000 tonnes of green hydrogen annually, creating over 2,000 employment opportunities in its operational phase. The Business Times reported that the company will also assess the potential of developing an industrial park in Odisha.
Representatives from the Odisha government and Sembcorp signed the MOUs, with Singapore’s Minister for Transport and Second Minister for Finance, Chee Hong Tat, and Odisha Chief Minister Mohan Charan Majhi, along with other officials, in attendance.
The MOUs were signed during President Tharman Shanmugaratnam’s state visit to India.
Sembcorp said the MOUs are part of the framework set by the Singapore and Indian governments to strengthen bilateral collaboration, focusing on six key pillars, including sustainability. The company added that it is looking for more opportunities to expand in India, with support from partners like Enterprise Singapore.
The company said that the MOUs are not expected to have a material impact on its earnings per share or net tangible assets for the financial year ending Dec 31, 2025. On Friday, the company’s shares closed up 1.3 per cent at S$5.63 before the announcement. /TISG
Read also: Sembcorp signs another 58.5MWp renewable energy deal with Equinix, bringing total to 133.5MWp
Featured image by Depositphotos (for illustration purposes only)
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