Reliance Industries Ltd. has secured a landmark $3 billion deal with South Korea's Samsung C&T Corp. to supply green ammonia, marking a significant milestone in billionaire Mukesh Ambani's pivot towards renewable energy.
The binding, long-term supply and purchase agreement spans a 15-year period, with deliveries slated to commence in the second half of the fiscal year ending March 2029.
Reliance's executive director Anant Ambani noted that the initiative aims to integrate India's renewable resources with manufacturing leadership to produce value-added chemicals at scale.
The partnership is the first in a series of anticipated off-take agreements intended to scale Reliance's nascent New Energy platform.
The deal provides a clear revenue roadmap for Reliance's new energy unit as it works toward the company's broader goal of reaching net-carbon zero by 2035.
