India-origin ACME Group has signed a land agreement with Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ), said local reports on Thursday, August 26.
This, the reports said, was its first step towards setting up one of the world’s largest green ammonia projects in the Port of Duqm.
The plant is expected to be developed in phases at an estimated cost of $3.5 billion over the next three years.
It will reportedly be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons.
In March, the Oman Company for Development of Special Economic Zone at Duqm, or Tatweer, and the ACME Group had signed an MoU to set up a large-scale facility to produce green hydrogen and green ammonia.
This would be the first facility of this scale to be operational by 2022. The facility is being built to export green ammonia to demand centers like Europe and Asia.
The land agreement was signed in the presence of ACME Group Founder and Chairman Manoj K Upadhyay, and OPAZ Chairman Ali Masoud Al Sunaidy and Vice-Chairman Ahmed Hassan Al Dheeb Mahmoud Al Rawahi.
The reports quoted Upadhyay as saying: “The signing of the land reservation agreement will allow us to kick start pre-construction activities.”
He added: “We have hired environmental consultants and owner’s engineers Black & Veatch and we plan to start the construction in Oman as soon we commission our first green hydrogen and green ammonia plant in Bikaner in India.”
He also said the project’s Phase One was likely to be commissioned by end of 2022.