AM Green, Rotterdam Port sign pact for green energy supply chain
and the Port of Rotterdam Authority on Monday signed a pact to build a
green energy
supply chain between India and Northwestern Europe through Rotterdam, Europe's first energy port and a key
hydrogen
carriers' entry point.
The scope includes the supply of bunkering fuels and sustainable aviation fuels (SAFs) and analysing requirements for the development of terminal infrastructure in Rotterdam and along the supply chain to Northwestern Europe, the companies said in a joint statement on Monday.
AM Green, promoted by founders of Greenko Group, has a goal to develop 5,000,000 tons of green ammonia production capacity by 2030, equivalent to about 10,00,000 of green hydrogen, with initial production starting in Kakinada.
The Port of Rotterdam plays a lead role as a critical logistics and hydrogen hub for the European continent with some 13% of the total energy demand in the continent entering through Rotterdam, the companies said.
"The partnership is part of our ambitious global growth strategy in green fuels, including 5 million tonnes per year of green ammonia and 1 million tonnes of SAF,' Anil Chalamalasetty, Founder of AM Green said.
Live Events
The port of Rotterdam creates economic and social value in the Rotterdam-Rijnmond region, the Netherlands and Europe through employment and security of supply of energy, food and other materials.
The aim of the Port of Rotterdam Authority is to strengthen the port's position as a future-proof logistics hub and industrial complex. Quality is central to this. The Port Authority's ambition is to develop a climate-neutral port that is in harmony with its surroundings.
AM Green's target is to produce sustainable aviation fuel, green ammonia, green hydrogen, green chemicals and biofuels and to set up related technology partnerships and services through its various business verticals which are housed in the subsidiaries of AM Green.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
18 minutes ago
- The Hindu
PEC's ex-students roll back the years at reunion
A recent reunion of the 1996-2000 B. Tech batch of the erstwhile Pondicherry Engineering College (PEC), now the Puducherry Technological University (PTU), to mark the silver jubilee of their graduation, was virtually a transatlantic event, with former students from far-flung destinations across the globe gathering at the alma mater. Some of the former students had arrived from the bustling metropolises of the U.S, others headed down from Australia, European cities, West Asia and South East Asian cities. 'The reunion both rekindled and reinforced bonds and a collective spirit fostered in the campus', said Saravanan S, who was among the core group behind the 'I'mPECcable Y2K' reunion. It took well over a year of planning and virtual conferencing to pull off the event, which was special as it marked the 25th anniversary of passing out for the Class of 2000. And, about 130 students made it to the silver jubilee bash. Students of the batch take pride in its diversity. It is hardly about the global spread of the alumni network, but about the heterogeneous mix that includes a fair share of high-flyers, from entrepreneurs to CEOs, a top-ranking law enforcement officer, a Buddhist monk, a Catholic Nun, and talented homemakers. Students attribute the diverse paths taken by batchmates in finding fulfilment to the academic atmosphere in the institution that moulded them to be free-thinkers. Back at their academic home, the collective decided that the best way of giving back to the alma mater was to spearhead a slew of alumni-driven initiatives that would benefit the next generation of engineers and sustain institutional excellence. The centrepiece of the goodwill gesture of giving back to the alma mater is a proposal to establish a Centre of Excellence Ambitious in its scope, the project aims to create a state-of-the-art facility, fostering advanced research, innovation, and skill development, thereby significantly enhancing the university's academic and technological capabilities. The other proposals range from campus beautification, upgrade to the college's facilities and setting up a RO water cooler. Adding to these immediate improvements, the alumni has also planned for continued collaboration with PTU, a long-term engagement to train faculty members and students on the latest engineering skills that would ensure that the university's curriculum remained at the forefront of technological advancements. The batch has also committed to assisting current students in securing placements in top-notch companies, leveraging their extensive professional networks to open doors to promising career opportunities. S. Mohan, PTU Vice-Chancellor who was the chief guest for the launch of silver jubilee reunion addressed the alumni virtually.
Mint
an hour ago
- Mint
‘Your company truly never cared, never will': MNC employee cries over no leaves or work-from-home on Diwali
A recent post on Reddit has ignited a conversation about the disparities in leave and work-from-home policies for Indian employees compared to their western counterparts within American multinational corporations (MNCs). The anonymous user's candid account of an emotional confrontation with their senior manager over Diwali leave has resonated with many, putting focus on the alleged 'toxic work culture' in these MNCs. The original poster, who is a woman identifying as an employee of an American MNC with a hybrid work model, expressed deep disappointment with the company policies. 'I understand at the end of the day we're just cheap labor for them but god forbid I believe we'd have some policies that treat us like human.' She also bashed the company for favoring their western colleagues by stating, 'American/European colleagues can take long vacations and happily take the weeks of spring break, Thanksgiving and Christmas off.' Original post on Reddit The user further added that similar considerations are not extended to Indian employees, even for major cultural festivals such as Diwali. The core of the user's grievance centers on her company's 'no work from home or leaves' policy during the Diwali week. She revealed that, 'We're all working Diwali week except 1-2 people will be off on different days so there's some support each day.' The user's plight intensified when their request for work remotely from their hometown during the festival week because someone needs to be in the office. 'Believe me, we're still working on a week we deserve to be off. But now they want us in office. We've saved leaves and WFHs all year for this,' she added. The situation turned quickly got heated, which led to a 'crying sobbing angry argument' with the user's senior manager as she asserted 'I HAD TO GO HOME. It's the ONE time I get to.' A resolution only came when another colleague from the same city as the original poster decided to cancel their leaves to come into the office since they'll suffer the least damage. 'So technically this wasn't resolved, someone just sacrificed,' she said. The reddit post ended with a comment on corporate empathy as the user stated, 'Your company truly never cared, never will. Always knew this, but some days are truly frustrating.' Most of the comments on the post emphasised with the user, while some others shared their personal experiences of working with a western MNC. A Reddit user said, 'Well, that's pretty much how things work in Indian MNCs. I do empathize with you, but unfortunately, you wont find any respite here. Everything is 24/7 and #1 priority.' Another user mirrored this thought and said, 'It is not you, it is your managers. I am Indian working in Germany. Our project has a small team in Pune, and the managers always keep proudly proclaiming in the meetings that his team is so dedicated that they can work on weekend and holidays as well.' Among those negative experiences, some users had a completely different story about working with an MNC. A user claimed that not all workplaces are toxic, further reiterating 'I work with a small performance marketing shop, the client is based in Europe, for some reason I can't get into to maintain secrecy, they have the entire first half of August off. They told us no one at their end is going to be working till the 20th atleast. We decided to do the same.'
Mint
6 hours ago
- Mint
Wall Street Banks Lose Ground in Europe as Tariffs Spook Clients
(Bloomberg) -- As US President Donald Trump has ratcheted up his rhetoric against trading partners in Europe — corporates across the continent are taking notice. As a result, some companies have begun to diversify their banking relationships away from the giants of Wall Street, according to data compiled by Bloomberg. That's been a boon for Europe's leading banks, which have been actively vying to win the extra business. 'Some players are saying that it's better to go to European or French investment banks for advice on financing or mergers and acquisitions,' said Arnaud Petit, managing director of Edmond de Rothschild's corporate finance business. Deutsche Bank AG Chief Executive Officer Christian Sewing sees similar in potential clients' requests for proposals: 'It is happening every day with client wins and RFPs and new business that we put on.' So far this year, roughly half of the euro bond deals from non-US companies did not involve any of the five biggest US banks, according to data compiled by Bloomberg. That's up five percentage points from a year earlier. For sterling bonds the gap has widened even further — Wall Street banks were shut out of just 47% of deals throughout all of last year. So far this year, though, they've been excluded from 64% of them. The emergence of the ability of a few European banks 'to be able to offer competitive services and advice to clients' has created a desire among clients to switch, according to UBS Group AG Chief Executive Sergio Ermotti. 'We believe we are well placed to continue to benefit from that diversification.' Even before Trump's trade war kicked off in earnest, the biggest of the US banks warned that it was starting to see an impact. By April, JPMorgan Chase & Co. had already lost 'a couple' of bond deals tied to the tariff uncertainty, with companies opting for local banks instead, Chief Executive Officer Jamie Dimon said in an interview with Fox Business at the time. He warned that the tumult was 'causing cumulative damage including huge anger at the United States.' The latest example of a win for non-US banks came this week, when Zurich-based insurer Chubb Ltd. issued an offshore yuan-bond. It opted for Standard Chartered Plc to help take on the deal. The bank was told: 'We want to bank with the regional champions, rather than just with global banks in general,' Standard Chartered Chief Financial Officer Diego de Giorgi said. 'Because we think that you guys bring specific skills in a world that is fragmenting.' Chubb is not an exception. The effect is most pronounced in Asia, where economies are expected to be hard hit by the changing trade regimes and the re-routing of supply chains, said Ruchirangad Agarwal, head of corporate banking for Asia and the Middle East at the research firm Coalition Greenwich. 'The willingness of companies in Asia to change their transaction bank is currently at a high: a third of them plan to issue a new RFP within the next 12 months,' Agarwal said. Already, US lenders' market share in financing trade for Chinese companies has dropped in recent years - from 12% in 2017 to about 7% share now, he added. 'We expect to see heightened uncertainty and customer churn at US banks as large corporates take an active risk management stance on FX, interest rates, counterparty risk, geopolitical tensions and supply chain disruptions,' said Martin Smith, head of markets analysis at East & Partners. BNP Paribas SA, meanwhile, has gained more share than any other player in Asia, Smith said. 'There are clearly strategic opportunities in the tectonic shifts that the world has been seeing in recent months' Societe Generale SA CEO's Slawomir Krupa said of companies looking to shift toward European banking partners. 'The logic behind this form of risk diversification has become more apparent for companies.' --With assistance from Harry Wilson, Claudia Cohen and Noele Illien. More stories like this are available on
