Sembcorp to set up industrial park and green hydrogen plant in India

SINGAPORE: Energy and urban solutions provider Sembcorp Industries has taken another step forward in its green hydrogen strategy, announcing the signing of two non-binding memoranda of understanding (MOUs) with the government of Odisha, India. The agreements were executed through Sembcorp’s subsidiaries, Sembcorp Green Hydrogen India Private Limited (SGHIPL) and Sembcorp Development.

The first MOU, signed by SGHIPL and the Industrial Promotion & Investment Corporation of Odisha (IPICOL), focuses on the exploration of a green hydrogen production facility in the state. This proposed facility is projected to have an annual production capacity of 720,000 metric tonnes of green hydrogen and its derivatives. If realized, the project could also create over 2,000 jobs during its operational phase, contributing to both the local economy and India’s transition to cleaner energy.

In addition, Sembcorp Development has entered into a second MOU with the Odisha Industrial Infrastructure Development Corporation (IDCO), aimed at evaluating the potential development of an industrial park in Odisha. This initiative aligns with Sembcorp’s ongoing efforts to promote sustainable industrial growth in India and further enhance the nation’s green economy.

While the MOUs signal promising progress for Sembcorp’s green hydrogen and infrastructure plans in India, the company has stated that the agreements are not expected to have a material impact on its earnings per share or net tangible assets per share for the fiscal year 2025.