Reliance Industries [RS] has signed a $3 billion long-term green ammonia supply agreement with Samsung C&T Corporation. This marks one of the world's largest green ammonia offtake deals and a major step in Reliance's clean energy expansion.
The binding agreement runs for 15 years, with supplies scheduled to begin in the second half of fiscal 2029. The deal is expected to support Reliance's growing New Energy platform, which includes renewable power, battery storage, green hydrogen, and downstream green fuel production.
Anant Ambani stated that the partnership supports India's clean-energy ambitions by linking renewable resources with domestic manufacturing capabilities to produce value-added chemicals at scale. The agreement will help expand Reliance's green hydrogen ecosystem and gigafactory network.
Production for the contract will be supported by Reliance's Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, a 5,000-acre manufacturing hub designed for solar modules, batteries, electrolyzers, and fuel cells under a Make-in-India strategy.
The agreement also aligns with the National Green Hydrogen Mission, which targets 5 million tonnes of green hydrogen production by 2030 and aims to establish India as a major exporter of green fuels.
Reliance, chaired by Mukesh Ambani, said the contract provides long-term revenue visibility for its new energy business as the company works toward its target of net carbon neutrality by 2035.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.