Ashoka Buildcon to Invest Rs 9,000 Crore in Green Hydrogen Plant in Bihar.

Ashoka Buildcon, a leading construction engineering company, has announced plans to invest Rs 9,000 crore in the establishment of a green hydrogen plant in Bihar. The company’s Chief Operating Officer for Renewable Energy, Mayank Sharma, revealed the investment during the Bihar Business Connect 2024, where the company also signed a Memorandum of Understanding (MoU) with the state government.

The Maharashtra-based company, which is involved in highway construction, power distribution, and solar energy projects, will set up a 1,250 MW solar project as part of the initiative. The solar power generated will be used to produce green hydrogen by splitting water, a clean and sustainable energy source that only produces water when burned.

Sharma confirmed that the first phase of the plant will be located in Begusarai, Bihar. He added that the first phase is expected to take between 1.5 to 2 years to commission, pending all necessary clearances. The second phase of the project will follow after the completion of the first.

Green hydrogen is considered the cleanest source of energy, with no harmful emissions, making it an ideal alternative to fossil fuels.

As of March 31, 2024, Ashoka Buildcon had an order book of Rs 11,697 crore, with 53% of the total order book in roads and railway projects. The company is also involved in significant projects, including a Rs 662.55 crore order from the City & Industrial Development Corporation of Maharashtra Limited (CIDCO) for constructing a Link Road to the Navi Mumbai International Airport and a completed 150 MW solar power plant for NTPC in Rajasthan.

BS