According to The Edge Markets article published on May 3, 2023, Petroliam Nasional Bhd (Petronas) plans to invest 340 billion rupees (about US$4.1 billion) in projects in the southern Indian state of Tamil Nadu, local Indian media reported on Wednesday (May 3).
The Malaysian energy giant aims to set up a green hydrogen and ammonia plant and its project has received the state government's clearance, according to the reports.
It was one of the five investment proposals from Indian and foreign companies approved at the Cabinet meeting chaired by chief minister MK Stalin in Chennai on Tuesday, the reports said.
Petronas has a number of businesses in India in areas such as crude oil trading, liquefied petroleum gas (LPG), petrochemicals, lubricants, and liquefied natural gas (LNG).
One of its focus areas in India is the renewable energy sector.
