Tuticorin Port signs investment proposals worth over 1 lakh crore

Mumbai, Oct 31 (PTI) V.O. Chidambaranar Port Authority (VOCPA) on Friday said it signed 28 pacts with leading players in the green energy sector, collectively representing an investment exceeding Rs 1.27 lakh crore.

VOCPA, Tuticorin in a statement said among the major memorandum of understandings (MoUs), the first was penned with Green Infra Renewable Energy Farms Private Limited (GIREFPL), a Sembcorp group company, for the establishment of a common storage farm or immediate tanking storage facility for green ammonia and other hydrogen derivatives, involving an investment of Rs 25,400 crore.

The second MoU was exchanged with ACME Green Hydrogen and Chemicals Private Limited for a 1,200 MTPD green ammonia project valued at Rs 12,000 crore, whilst the third was signed with CGS Energy Private Limited for a 300 TPD green ammonia production facility, at an investment of Rs 5,000 crore.

VOCPA said these projects are set to significantly bolster the port's standing as a future-ready green hydrogen hub for southern India.

VOC Port Authority Chairman Susanta Kumar Purohit said, "To date, we have signed around 28 MoUs with key stakeholders, collectively valued at Rs 1.27 lakh crore (over USD 15 billion)." Purohit said these agreements emphasise port-driven industrialisation, green hydrogen and alternative fuels, alongside the integration of artificial intelligence into our port activities.

"We anticipate substantial inflows of investment and the generation of many new jobs as a result. We are working extremely hard to build VOC Port into a port of the future, with green energy initiatives and the development of an outer harbour," he said.

With substantial backing from the Government of India, ports across the country are embracing renewable energy, green hydrogen, and decarbonisation measures to support the nation's ambitious goal of becoming a global pacesetter in sustainable maritime operations.

Against this backdrop, several MoUs were formalised during the India Maritime Week 2025. PTI BKS HVA