The public sector power generator NTPC will set up a “New Energy Park”, in Anakapalli, in Andhra Pradesh, to produce green hydrogen and green ammonia in two phases. The estimated cost of the project is Rs. 1,10,000 crore.
A Tuesday official release stated that the Andhra Pradesh State Investment Promotion Board, (SIPB), approved a number of investment proposals for the establishment of several heavy industries.
NTPC will establish a New Energy Park in Anakapalli to produce green hydrogen, green ammonia, and green methanol. The total investment is Rs. 1, 10,000 crore divided into two phases, with each phase receiving an investment of Rs. 55,000 crore, the release stated.
The completion of the first and second phases, which offer employment opportunities for 30,000 and 31,000 persons, would occur by 2027 and 2032.
Ramayapatnam would be home to a Rs 10,000 crore factory that will produce special minerals such as copper cathode and copper rod.
According to the release, the facility will directly create 2,500 jobs and work would begin in May 2023 and finish in June 2025.
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