Sembcorp Industries, through its subsidiaries Sembcorp Green Hydrogen India and Sembcorp Development, has on Friday (Jan 17) signed two non-binding memoranda of understanding (MOUs) with the state government of Odisha.
Under the MOUs, Sembcorp Green Hydrogen India will explore the development of a production facility for green hydrogen and its derivatives, with an anticipated production capacity of 720,000 tonnes an annum.
The facility is also expected to create more than 2,000 employment opportunities during its operational phase, said the company.
Meanwhile, Sembcorp Development will assess the potential to develop an industrial park in Odisha, India.
These MOUs were signed by representatives of the Odisha government and Sembcorp. Singapore’s Minister for Transport and Second Minister for Finance Chee Hong Tat and Shri Mohan Charan Majhi, chief minister of Odisha, along with other dignitaries attended the signing.
The exchange of the MOUs took place on the sidelines of President Tharman Shanmugaratnam’s state visit to India.
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Sembcorp highlighted that the 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.
“Sembcorp continues to explore opportunities to deepen its presence in India, with the support of partners like Enterprise Singapore,” said the company.
It added that the signing of MOUs is not expected to have a material impact on the earnings per share and net tangible assets per share for the financial year ending Dec 31, 2025.
Shares of Sembcorp closed Friday up 1.3 per cent, or S$0.07, at S$5.63, before the announcement.
