Billionaire Gautam Adani's Adani Group, which has been investing billions of dollars in setting up facilities to produce green ammonia and green hydrogen from water, has now announced the formation of a new joint venture.
Adani Global Pte. Ltd, a step-down wholly-owned subsidiary of Adani Enterprises, has formed a joint agreement with Japanese trading house Kowa Group for the sales and marketing of green ammonia and hydrogen produced and supplied by the Indian conglomerate.
What does the joint venture intend to accomplish?
The joint venture between Adani Global Pte. Ltd. and Kowa Holdings Asia Pte. Ltd. stipulates the formation of a new company based in Singapore, which will focus on the sales and marketing of green products within an agreed territory.
According to the company's exchange filing, Both companies will have equal ownership in the newly formed joint venture.
What does Kowa Group do?
Founded in 1984, The Kowa Group is a Japan-based diversified company involved in various business sectors. The company is engaged in multiple sectors: trading, manufacturing, medical, and optical products.
The company trades fibres, machines, building materials, watercraft, mineral resources, chemical materials, and everyday goods in the trading division. Kowa Group also produces medicine, medical equipment, optical instruments, and energy-saving products.
The company also operates Colgen Kowa and Cabagin Kowa, a company that markets medical products. Additionally, It is involved in the manufacturing and selling of Prominar-brand camera lenses, spotting scopes, and video equipment used by various commercial TV and radio stations.
What does Adani Global Pte. Ltd. do?
Adani Global Pte Ltd, Singapore, is a step-down wholly-owned subsidiary of Adani Enterprises, a company led by Indian billion Gautam Adani. The company trades in coal and power.
The company has several subsidiaries, including Adani Global, Pt (Indonesia), Adani Shipping Pte. Ltd., and Adani Wilmar Pte. Ltd.