- Two MOUs signed to explore the development of a green hydrogen plant and an industrial park in the state
Sembcorp Industries (Sembcorp), through its wholly-owned subsidiaries Sembcorp Green Hydrogen India Private Limited (SGHIPL) and Sembcorp Development Ltd, today signed two non-binding Memoranda of Understanding (MOUs) with the Government of Odisha. These MOUs were signed by representatives of the Government of Odisha and Sembcorp, in the presence of Singapore's Minister for Transport and Second Minister for Finance Chee Hong Tat and Shri Mohan Charan Majhi, Honourable Chief Minister of Odisha, along with other dignitaries. The MOUs exchange took place at the sidelines of the Presidential State Visit of His Excellency Mr Tharman Shanmugaratnam, President of the Republic of Singapore's to India.
Under the MOU signed with Industrial Promotion & Investment Corporation of Odisha Limited, SGHIPL will explore the development of a production facility for green hydrogen and its derivatives, with an anticipated production capacity of 720,000 metric tonnes per annum. The facility, to be strategically located in Odisha, is expected to generate over 2,000 employment opportunities during its operational phase.
Sembcorp Development Ltd has also signed a non-binding MOU with Odisha Industrial Infrastructure Development Corporation to assess the potential for the development of an industrial park in Odisha, India.
These MOUs build upon the framework outlined by the Governments of Singapore and India to enhance bilateral collaboration, with a focus on six key pillars, including sustainability. With abundant resources and investor-friendly policies, Odisha is pivotal to India’s transition to a low-carbon future. Sembcorp continues to explore opportunities to deepen its presence in India, with the support of partners like Enterprise Singapore.
The signing of these MOUs is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2025.
