Patna, Dec 20 (PTI) Construction engineering company Ashoka Buildcon plans to invest Rs 9,000 crore in setting up a green hydrogen plant in Bihar, its COO-Renewable Energy Mayank Sharma said Friday.
The company signed a memorandum of understanding with the state government, committing to investing in the plant, during the Bihar Business Connect 2024.
The Maharashtra-based firm is in highway construction, power distribution and solar projects.
Sharma said the company will set up a 1,250 MW solar project and use the clean electricity to produce green hydrogen by splitting water.
"The first phase of the plant is being planned at Begusarai (in Bihar)," he said.
Green hydrogen is the cleanest known source of energy, which produces just water from being burnt.
Sharma said the first phase of the project will take 1.5-2 years to commission from the date of receiving all clearances.
The second phase will follow thereafter.
According to the latest presentation on the company website, Ashoka Buildcon had an order book of Rs 11,697 crore as of March 31, 2024. Of this, the roads and railway project is Rs 6,214 crore, which is 53 per cent of the total order book. Power T&D is to the tune of Rs 4,796 crore.
Major orders with the company include Rs 662.55 crore (won in JV) from City & Industrial Development Corporation of Maharashtra Limited (CIDCO) for constructing Link Road to Navi Mumbai International Airport (NMIA). It completed a 150 MW solar power plant project for client NTPC in Rajasthan.