Singapore's Sembcorp Signs Green Hydrogen MOUs in India
Key Ideas
- Sembcorp Industries signs MOUs with Odisha Government to explore the development of a green hydrogen production facility and an industrial park.
- The production facility is expected to have a capacity of 720,000 metric tonnes per annum and create over 2,000 job opportunities.
- The MOUs were signed in the presence of dignitaries from Singapore and India, indicating a positive partnership for green hydrogen development.
- The agreements are non-binding and are not anticipated to significantly impact Sembcorp's financials for the year 2025.
Sembcorp Industries, through its subsidiaries SGHIPL and Sembcorp Development Ltd, has signed two non-binding Memoranda of Understanding (MOUs) with the Odisha Government in India. The MOU with the Industrial Promotion & Investment Corporation of Odisha Ltd focuses on exploring the development of a green hydrogen production facility with a capacity of 720,000 metric tonnes per annum, aiming to create over 2,000 job opportunities. Additionally, Sembcorp Development Ltd signed an MOU with Odisha Industrial Infrastructure Development Corporation to assess the potential for an industrial park in the state. The MOUs were signed during the State visit of Tharman Shanmugaratnam, President of Singapore, to India, showcasing a positive partnership. These agreements are not expected to significantly impact Sembcorp's financials for 2025, but they highlight the commitment to green hydrogen development and economic growth in Odisha.