Adani Group forms Joint Venture with Japanese trading house Kowa Group

New Delhi:

Billionaire Gautam Adani’s group said on Friday it has formed an equal joint venture with Japanese trading house Kowa Group to market 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’s flagship company said in a statement. exchange filing.

The Adani Group is investing several billion dollars in establishing facilities to produce green ammonia and green hydrogen from water.

“The 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 sale and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by the Adani Group, in the agreed territory,” it said.

Adani and Kowa will each hold 50 percent of the shares in the joint venture.

No other details were provided by the group.

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