Adani Group Forms JV with Kowa Holdings for Marketing of Green Ammonia and Hydrogen
As per the agreement, the formation of a consortium company in Singapore for the sales and marketing of green ammonia, green hydrogen and its by-products manufactured and supplied by the Adani Group.
September 11, 2023. By EI News Network
Adani Global Pte Ltd, Singapore, a step-down wholly owned subsidiary of Adani Enterprises Ltd announced a 50:50 joint venture (JV) with Kowa Holdings Asia Pte Ltd, Singapore for sales and marketing of green ammonia, green hydrogen and its derivatives. The JV will concentrate on marketing of products in Japan, Taiwan and Hawaii.
Adani Group stated in a stock exchange filing, that Adani Global Pte Ltd, Singapore, a step-down wholly-owned subsidiary of (Adani Enterprises Ltd) has signed a JV agreement with Kowa Holdings Asia Pte Ltd.
The company is outlaying multi-billion dollars in establishing facilities to manufacture green ammonia and green hydrogen from water.
The company officials stated, "Joint venture agreement records the terms of incorporation of a joint venture company in Singapore in accordance with the terms of the agreement for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group, in the agreed territory.”
Kowa Holdings Asia Pte Ltd was established in 1894 as a cotton fabric wholesaler in Japan.
The company deals in international trade and domestic sales of chemicals, machinery, construction and building materials, activated carbon, food and food ingredients, fishing tools, optical products, medical equipment, IOL lenses and so on.
Adani New Industries Limited, a subsidiary of Adani Group, manufactures green hydrogen and its downstream products such as ammonia, urea, methanol, and ethanol at its Khavda and Mundra SEZ facilities in Gujarat.
Earlier, the company proposes to utilise the alkaline and PEM electrolysis process to manufacture 2.5 million tonnes of green hydrogen yearly by FY31 at Khavda.
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