Odisha Chief Minister Mohan Charan Majhi announced on Friday, 3 July 2026 that the state government has signed cooperation agreements with Japan's IHI Corporation and Indian renewable energy developer ACME, committing ₹67,000 crore in investment across three large projects in Paradip and Gopalpur, with a projected creation of more than 7,600 jobs.

Posting in Odia on X, Chief Minister Majhi wrote: 'ଲୋକଙ୍କ ସରକାରରେ ଓଡ଼ିଶା ଗଢ଼ୁଛି ଶିଳ୍ପାୟନର ନୂଆ ଇତିହାସ' — 'Under the people's government, Odisha is writing a new history of industrialisation.' He described the signed letters of cooperation as 'the beginning of a new chapter' in clean energy and green industry, and stated that Odisha is taking 'firm steps' toward becoming a 'Global Green Hub' anchored in technology, innovation and sustainable development.

Context

IHI Corporation is a Japanese heavy-industry and engineering conglomerate with established expertise in hydrogen technology, clean energy systems and industrial machinery. ACME is an Indian developer with a growing portfolio in solar power, green hydrogen and green ammonia. The combination positions the Odisha projects at the intersection of domestic renewable ambition and Japanese technology transfer.

The agreements were signed under the current BJP state government, which took office in June 2024 under Chief Minister Majhi. The administration has consistently framed large-scale industrial investment around a green-growth narrative, continuing and rebranding an investor-attraction drive that predates the current government.

Policy Backdrop

India's National Green Hydrogen Mission, launched in 2023, set out to scale domestic production and position the country as a global exporter of green hydrogen and its derivatives, including ammonia. Coastal states with deep-water port infrastructure are central to that strategy because they offer both industrial land and export logistics.

Paradip, a major deep-water port in Jagatsinghpur district, and Gopalpur, a port town in Ganjam district being developed as an industrial and logistics centre, are the two locations named for the three projects. Their coastal access makes them natural candidates for hydrogen and ammonia clusters intended for export markets, including Japan, which has committed to large-scale clean-fuel imports as part of its own decarbonisation roadmap.

India and Japan have deepened cooperation on clean energy technology and supply chains under the India-Japan Strategic Partnership, making IHI's involvement consistent with a broader bilateral pattern of Japanese industrial firms anchoring projects in Indian coastal states.

Stakeholders and Impact

The 7,600-plus direct employment opportunities cited by the Chief Minister would be concentrated in coastal Odisha, regions where large-scale industrial projects have historically been the primary source of formal employment. Renewable energy and green-hydrogen facilities also typically generate indirect jobs in construction, logistics and ancillary services during the build phase.

For renewable energy companies already operating in Odisha, the entry of IHI and ACME signals intensifying competition for land, grid connectivity and port access. State agencies responsible for industrial clearances and the Odisha Industrial Infrastructure Development Corporation will be key enablers — or bottlenecks — as the projects move from letters of cooperation toward ground-breaking.

What's Next

Letters of cooperation, also called letters of intent or MoUs at the preliminary stage, are non-binding frameworks; the critical milestones ahead include formal investment agreements, land acquisition, environmental clearances and financing closure. Progress on these fronts is expected to be tracked at upcoming high-level India-Japan bilateral meetings and any future edition of the Odisha Investors' Summit.

If the ₹67,000 crore commitment translates into grounded projects, Odisha would rank among India's leading states in green-energy FDI, reinforcing the coastal east's emerging role in the country's net-zero transition strategy.