Indian Cologmerate billionaire Gautam Adani’s group announced on Friday that it has formed a joint venture with Japan’s trading house Kowa Group.
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Adani group has announced that they will be investing multi-billion dollars to set up facilities that will produce green ammonia and green hydrogen from water.
According to sources Adani group and KOwa group will have 50-50 stake in the joint venture.
Adani group stated, "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”
"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.
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