ADB and Japan Extend $100 Million Financing to AM Green’s 1.1 Million TPA Green Ammonia Project in Andhra Pradesh

21 October 2026: The Asian Development Bank (ADB) and the Government of Japan have signed financing agreements with AM Green Ammonia (India) Private Limited to support its 1.1 million-tonne-per-annum green ammonia manufacturing project at Kakinada, Andhra Pradesh. The financing includes a $100 million loan through the Leading Asia’s Private Infrastructure Fund 2 (LEAP 2), funded by the Japan International Cooperation Agency (JICA) and administered by ADB. The agreement marks the first investment under the ACCEL energy-security initiative launched in May 2026.

The project involves converting a former natural-gas-based ammonia and urea manufacturing complex into a renewable-energy-powered green ammonia facility. AM Green acquired the existing plant in 2024 and subsequently approved its redevelopment. The facility will be developed in two phases, each providing approximately 547,500 tonnes of annual capacity. The first phase is already under construction, with commissioning targeted for March 2029, while the second phase is scheduled for March 2030, subject to additional offtake agreements.

The development integrates renewable electricity, green hydrogen production, ammonia synthesis, storage and export infrastructure. It is expected to strengthen India's green hydrogen ecosystem, support international ammonia exports and accelerate industrial decarbonisation