ACME Group to Invest Rs 12,422 Crore in Green Methanol Plant in Odisha

Bhubaneswar: ACME Group, one of India’s largest renewable energy and solar platforms, has signed an agreement to establish a green methanol production plant in Odisha with an investment of about Rs 12,422 crore.

As reported by Mint, the proposed greenfield plant will have the capacity to produce around 200,000 tonnes of green methanol annually, which will be used primarily as a clean fuel for ships. The agreement has been signed with the Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL).

Anil Taparia, Chief Operating Officer (COO) of ACME Green Hydrogen and Ammonia Business Unit, confirmed the development in an interview, outlining the company’s plans to expand its green fuel footprint in the country.

Odisha is increasingly emerging as a key destination for green and technology-led investments. Speaking on January 21, Chief Minister Mohan Charan Majhi said the state is moving beyond its traditional reliance on natural resources and focusing on future-ready, technology-driven industries.

The state has attracted investment proposals worth Rs 1.67 lakh crore through recent investors’ meets, with the potential to generate employment for nearly 1.46 lakh people. The chief minister said the strong investor response at roadshows held in Hyderabad and Kolkata reflects growing confidence in Odisha’s evolving industrial strategy and its ambition to become a major industrial hub.