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ACME Group, India’s leading clean energy conglomerate, plans to establish a Green Methanol manufacturing facility in Odisha with a capacity of 200 KTPA. As the Government of Odisha makes determined efforts to setup new industries in different parts of the State to leverage its competitive edge, ACME has joined hands with Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) to establish a firm manufacturing base in the State.  

The Green Methanol facility is part of the ACME Green Hydrogen Business and will be set-up under a special project vehicle ACME Akshya Energy Pvt Ltd. The project is expected to be established in Kendrapada district of Odisha with an employment potential of more than 1100 new jobs. The project will help advance India’s ambition to become a global hub for green hydrogen and its derivatives. ACME Group and IPICOL will identify a Nodal Officer for early implementation of the Green Methanol Project.

According to Mr. Anil Taparia, Chief Operating Officer at ACME Green Hydrogen and Ammonia Business Unit, “Odisha, with a strong green energy ecosystem and deep industrial and port infrastructure, is fast emerging as an important center for manufacturing of green molecules including green methanol. We are setting up multiple green hydrogen and ammonia projects around Paradip and Gopalpur for both domestic and export purposes. Abundant availability of biogenic feedstock along with supportive industrial policies, and low-cost green power supply have created an excellent ecosystem in Odisha for production of green methanol at globally competitive costs.”

Odisha is an important manufacturing destination for ACME Group: Odisha is emerging as an important investment hub for the ACME Group’s Green Hydrogen & Ammonia business. It is planning to establish one of India’s most prestigious Green Ammonia facilities in Gopalpur, Odisha through its joint venture with Japan-based IHI Corporation. This is one of the single-largest foreign collaborations in India’s green hydrogen and ammonia sector. Moreover, ACME is setting up a 2,200 metric tonnes per day capacity green ammonia facility in Paradip, Odisha as it has received six (6) Letters of Award from Solar Energy Corporation of India Ltd. (SECI) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme Mode-2A, Tranche-I for supply of Green Ammonia to India’s fertilizer sector. Under this LoA, 370,000 metric tonnes per year of green ammonia will be supplied by ACME Group to some of India’s largest chemicals and fertilizer companies for a period of 10 years.

 By 2030, the global green methanol market is expected to be driven primarily by shipping decarbonisation, with maritime demand estimated at 5–10 million tonnes per annum, supported by IMO targets and regulations such as FuelEU Maritime. Europe is likely to account for around 40–50% of import demand, with additional pull from bunkering hubs in Singapore, Japan, and South Korea. Irrespective of high number of projects announced, the realistic operational capacity by 2030 is widely expected to be limited to 6–12 MTPA, indicating a tight supply–demand balance. In this context, India, backed by large-scale renewable capacity, port access and policy support under the National Green Hydrogen Mission, can emerge as a competitive exporter, with 0.5–1.0 MTPA plant-scale projects supplying long-term, compliance-driven maritime offtake markets in Europe and Asia.

 Union Asset Management Company Private Limited (‘Union AMC’) today announced its entry into the Specialized Investment Fund (SIF) space with the launch of ‘Arthaya SIF’, offered by Union Mutual Fund, a differentiated platform designed to deliver purpose-led, actively managed investment strategies across equity, hybrid, and fixed income segments.

Marking a significant expansion of its product suite, the move underscores Union Mutual Fund’s (Union MF’s) commitment to offering agile and tailored solutions for investors seeking more strategic, outcome-oriented portfolios.

‘Arthaya’ derived from the Sanskrit word Artha (Wealth) means “Purpose Led Wealth”. It reflects Union Mutual Fund’s philosophy of purposeful wealth creation – blending Indian roots with a modern outlook and aligning investors financial journey with long-term goals.

Commenting on the launch, Mr. Madhu Nair, CEO, Union AMC, said: “Arthaya SIF represents our foray into a fast-evolving space that sits between traditional mutual funds and high-ticket alternatives like PMS and AIFs. It allows us to offer strategies that are sharper, more flexible, and aligned with specific investor objectives. This initiative is a natural extension of our purpose-led approach to investing and intends to help investors complement their existing portfolios with solutions that are both disciplined and adaptive.”

As part of building deep capabilities in this segment, Union AMC has appointed Mr. Rajesh Aynor as Investment Lead – SIF. Rajesh brings over two decades of experience managing tactical, hybrid, and long-short strategies across market cycles. His appointment reflects Union AMC’s intent to bring institutional-grade thinking, risk management, and differentiated perspectives to this new vertical.

Sharing his perspective, Mr. Rajesh Aynor, Investment Lead – SIF, said: “Over the past few months, we have been shaping Arthaya SIF with a clear focus on investor intent and disciplined execution. The platform gives us the flexibility to build high-conviction strategies with active oversight, while staying true to investor intent. The focus is on clarity, adaptability, and alignment — delivering value not just through returns, but through purpose.”

Mr. Harshad Patwardhan, CIO, Union AMC, added: “Our investment ethos is built on discipline, research, and responsibility. Arthaya SIF strengthens this foundation by giving us the mandate to execute strategies that are nimble yet rooted in long-term thinking.”

Arthaya SIF will introduce a suite of strategies intended to complement traditional portfolios combining tactical flexibility with structured risk management. The platform aims to cater primarily to investors seeking bespoke allocation ideas, enhanced portfolio construction, and outcome-oriented solutions within a regulated and transparent framework.

The first strategy under Arthaya SIF is expected to be introduced in due course, subject to applicable approvals.

With this launch, Union Mutual Fund strengthens its efforts to support investors with purpose-driven investment solutions, shaped by institutional insights and delivered through disciplined execution.

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