Latest News | Adani Forms JV with Kowa for Green Ammonia, Hydrogen

New Delhi, Sep 8 (PTI) Billionaire Gautam Adani's group on Friday said it has formed an equal joint venture with Japanese trading house Kowa Group for marketing of green ammonia and green hydrogen produced by the Indian conglomerate.

"Adani Global Pte Ltd, Singapore, a step-down wholly-owned subsidiary of (Adani Enterprises Ltd) has signed a joint venture agreement with Kowa Holdings Asia Pte Ltd, Singapore on September 8," the Adani group flagship firm said in a stock exchange filing.

Also Read | Indian Coast Guard Recruitment 2023: Vacancies Notified for 350 Navik, Yantrik and Other Posts, Apply Online at joinindiancoastguard.cdac.in.

Adani Group is investing multi-billion dollars in setting up facilities to produce green ammonia and green hydrogen from water.

"Joint venture agreement records the terms of incorporation of a joint venture company in Singapore in accordance with the terms of the agreement for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group, in the agreed territory," it said.

Also Read | Microsoft Will Handle Legal Risks if Copilot AI Users Get Sued, Says President Brad Smith.

Adani and Kowa will hold a 50 per cent stake each in the joint venture.

No other details were provided by the group.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)