CM Majhi Signs ₹67,000 Cr MoC With IHI, ACME for Clean Energy
Synopsis
Odisha Chief Minister Mohan Charan Majhi signed an MoC with Japan's IHI Corporation and India's ACME Group on 3 July 2026, committing a proposed ₹67,000 crore toward clean energy and green industrialisation, with projections of 7,000 new jobs under the Samruddha Odisha 2036 framework.
Key Takeaways
Odisha CM Mohan Charan Majhi signed a Memorandum of Cooperation with IHI Corporation (Japan) and ACME Group (India) on 3 July 2026 .
The partnership carries a proposed investment of ₹67,000 crore directed at clean energy and industrial development.
Around 7,000 employment opportunities are projected to be created in Odisha under the agreement.
The MoC is aligned with the state's Samruddha Odisha 2036 roadmap and the national Viksit Bharat 2047 vision.
Technology transfer and green industrialisation — including potential green hydrogen applications — are central to the cooperation framework.
An MoC is a non-binding intent document; binding investment and job outcomes depend on subsequent project agreements and clearances.
Odisha Chief Minister Mohan Charan Majhi on Friday, 3 July 2026 announced the signing of a Memorandum of Cooperation with IHI Corporation, a Japanese heavy-industry and energy-systems conglomerate, and ACME Group, an Indian renewable-energy major, to advance clean energy and industrial development in Odisha. The partnership carries a proposed investment of ₹67,000 crore and is expected to generate around 7,000 employment opportunities in the state.
Context
Announcing the development on X, Chief Minister Majhi wrote that the agreement marks 'a significant step towards advancing clean energy and industrial development' in Odisha, adding that the partnership would accelerate 'technology transfer and green industrialisation.' He framed the initiative within the state's long-term blueprint, Samruddha Odisha 2036, and the Union government's national vision of Viksit Bharat 2047.
IHI Corporation is a Tokyo-headquartered multinational with capabilities spanning heavy machinery, aerospace, and advanced energy systems. ACME Group is an Indian conglomerate with a growing portfolio in renewable energy and green hydrogen production — sectors central to India's decarbonisation agenda.
Policy Backdrop
The agreement dovetails with two key policy frameworks. The Union Cabinet approved the National Green Hydrogen Mission in 2023, setting out targets for domestic green hydrogen production and positioning India as a potential global exporter. At the state level, Odisha unveiled its Industrial Policy Resolution in 2022, specifically designed to attract investment in manufacturing and clean energy.
Odisha's mineral wealth and coastal geography have historically made it a target for heavy industry. The current BJP government, which assumed office under Chief Minister Majhi in 2024, has sought to layer green-energy investments onto that industrial base, signalling a shift toward diversified, lower-carbon growth. Several Indian states have pursued similar international MoUs since the 2024 general elections, reflecting a competitive push for foreign direct investment in clean technology.
Stakeholders and Impact
The most immediate beneficiaries, if the investment materialises, would be the local workforce in Odisha, with the government projecting roughly 7,000 direct jobs. The renewable energy sector — particularly green hydrogen and advanced energy systems — stands to gain from the technology-transfer provisions embedded in the cooperation framework.
For IHI Corporation, the agreement extends its footprint into one of India's fastest-industrialising states. For ACME Group, it reinforces the company's positioning as a bridge between international technology providers and India's domestic clean-energy buildout. The ₹67,000 crore proposed outlay, if realised, would rank among the larger single-state clean-energy commitments announced in recent years.
What's Next
An MoC is a statement of intent rather than a binding contract; the translation of the proposed ₹67,000 crore into ground-level investment will depend on subsequent project agreements, regulatory clearances, and land allocation. Progress on technology-transfer timelines and the actual pace of job creation will be the metrics to watch in forthcoming state government reports.
Chief Minister Majhi's tagging of @PMOIndia in the post signals an expectation of central government support, potentially through the National Green Hydrogen Mission or related production-linked incentive schemes. Odisha's ability to move from MoC to financial close will test the state's investor-facilitation infrastructure and set a precedent for similar green-energy partnerships across eastern India.
Point of View
Using international partnerships to compensate for the state's historically commodity-dependent economy. Chief Minister Majhi's decision to tag the Prime Minister's Office signals a bid for central co-investment, likely through hydrogen mission incentives — a pattern seen across BJP-governed states seeking to align state ambitions with Union government flagship programmes. The ₹67,000 crore figure is headline-grabbing, but MoCs routinely overstate eventual investment; the true test will be how quickly the state converts intent into land, grid, and regulatory approvals. If even a fraction of the proposed outlay materialises, it would mark a structural shift in Odisha's industrial profile toward higher-value, lower-carbon sectors.
NationPress
3 Jul 2026
Frequently Asked Questions
What is the MoC signed by Odisha CM Mohan Majhi with IHI and ACME?
It is a Memorandum of Cooperation — a non-binding statement of intent — signed on 3 July 2026 between the Odisha government, Japan's IHI Corporation, and India's ACME Group to jointly develop clean energy and industrial projects in Odisha, with a proposed investment of ₹67,000 crore.
How many jobs will the Odisha IHI ACME clean energy deal create?
The partnership is projected to create around 7,000 employment opportunities in Odisha, according to Chief Minister Mohan Charan Majhi's announcement on 3 July 2026.
What is Samruddha Odisha 2036?
Samruddha Odisha 2036 is the Odisha state government's long-term development and prosperity roadmap targeted at transforming the state's economy by the year 2036, encompassing industrial growth, clean energy, and social development goals.
Who is IHI Corporation and why is it investing in Odisha?
IHI Corporation is a Japanese multinational specialising in heavy machinery, energy systems, and aerospace technologies. Its partnership with Odisha is aimed at advancing green industrialisation and technology transfer, aligning with India's National Green Hydrogen Mission and Odisha's Industrial Policy Resolution.
What is Viksit Bharat 2047 and how does the Odisha deal relate to it?
Viksit Bharat 2047 is the Government of India's vision to transform the country into a fully developed nation by 2047, the centenary of independence. The Odisha clean-energy MoC is positioned as a state-level contribution to that national goal by attracting foreign investment and building green industrial capacity.
