INOX scraps $3 billion Maharashtra green ammonia project

INOX Air Products has withdrawn from a $3 billion green ammonia project in Maharashtra, citing commercial viability concerns. The MoU was signed at Davos 2024, envisaging 500,000 metric tonnes annual capacity. The move reflects broader challenges in India's green ammonia sector, including pricing uncertainty, delayed tenders, grid connectivity issues, and land allocation hurdles.