AM Green firms up investment for 1 MT green ammonia project

AM Green Ammonia on Tuesday said it has firmed up investment for its upcoming green ammonia project of 1 million tonnes per year at Kakinada in Andhra Pradesh. The investment may be close to ₹13,000-15,000 crore ($1.5 billion), according to people familiar with the development.

The investment is split equally between equity and debt, one of the persons said. The equity is being put in by Gentari, a unit of Malaysia's Petroliam Nasional Berhad (Petronas), as well as GIC of Singapore and ADIA. Last year, the company raised $2 billion in equity from these new and existing investors.