Ashoka Buildcon's Ambitious INR 9,000 Crore Green Hydrogen Plant in Begusarai, Bihar
Key Ideas
- Ashoka Buildcon plans to invest INR 9,000 crore in a green hydrogen plant in Bihar, supported by a 1,250 MW solar project.
- The company aims to commission the first phase of the plant in Begusarai within 1.5-2 years after obtaining necessary clearances.
- The state of Bihar has received investment proposals worth INR 1.81 lakh crore, with the renewable energy sector attracting the highest interest.
- Ashoka Buildcon, known for highway construction and solar projects, reported an order book of INR 11,697 crore as of March 2024.
Ashoka Buildcon, a Maharashtra-based construction engineering firm, has announced a significant investment of INR 9,000 crore to establish a green hydrogen plant in Begusarai, Bihar. This initiative is accompanied by a 1,250 MW solar project to power the production of green hydrogen through water electrolysis. The company has signed an MoU with the Bihar government for this venture. The first phase of the plant is expected to be operational within 1.5-2 years after obtaining all necessary approvals, with a second phase to follow. Ashoka Buildcon, primarily engaged in highway construction, power distribution, and solar projects, has a substantial order book, including projects like a contract for a link road to Navi Mumbai International Airport and a completed solar power plant in Rajasthan. Bihar has attracted investment proposals totaling INR 1.81 lakh crore, with a significant focus on the renewable energy sector, which has received proposals amounting to INR 90,734 crore for 17 units.