Ashoka Buildcon to Invest Rs 9,000 Crore in Bihar for Green Hydrogen Plant
Key Ideas
- Ashoka Buildcon to invest Rs 9,000 crore in Bihar for a green hydrogen plant and a 1,250 MW solar project.
- The company aims to produce green hydrogen by splitting water using clean electricity from the solar project.
- Ashoka Buildcon had a substantial order book as of March 31, 2024, focusing on roads, railways, and power projects.
- The green hydrogen plant's first phase in Bihar is expected to be commissioned in 1.5-2 years after regulatory clearances.
Ashoka Buildcon, a construction and engineering company, announced plans to invest Rs 9,000 crore in Bihar to establish a green hydrogen plant. The company's COO-Renewable Energy, Mayank Sharma, revealed the investment during the Bihar Business Connect 2024 event. This investment will also support the development of a 1,250 MW solar project. The green hydrogen plant will utilize clean electricity generated from the solar project to produce green hydrogen through water splitting. The first phase of the plant is projected to be located in Begusarai, Bihar, with an estimated commissioning timeline of 1.5-2 years following all necessary regulatory approvals. Ashoka Buildcon's order book, as of March 31, 2024, stood at Rs 11,697 crore, with a significant portion allocated to roads, railways, and power projects. Notable projects include a solar power plant for NTPC in Rajasthan and an order from CIDCO for constructing a link road to Navi Mumbai International Airport.