Gentari Sdn Bhd and GIC Holdings Pte Ltd will invest $1.75 billion in AM Green Ammonia Holdings, a company owned by Greenko Group founders Mahesh Kolli and Anil Kumar Chalamalasetty, in what may rank among the world’s largest energy-transition deals, two people aware of the development said.
A unit of Malaysia’s Petronas, Gentari, will invest $1.5 billion for 30% in AM Green Ammonia Holdings, valuing the company at $5 billion. The founders will hold the balance 70% along with Singaporean wealth fund GIC, which will invest $250 million. Citigroup is the financial adviser to AM Green for this transaction.
These entities are likely to announce the deal shortly, along with an overall investment plan of $5.5 billion (including equity and debt funding by all stakeholders, including promoters) for producing 5 million tonnes of green ammonia annually in Tamil Nadu, Karnataka, Andhra Pradesh, Himachal Pradesh and Gujarat.
The plan also involves exporting green ammonia, produced at among the lowest costs globally, to South Korea, Japan, Singapore and Germany.
Bu hikaye Mint Mumbai dergisinin October 30, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin October 30, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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