RIL signs $3-billion green ammonia supply deal with Samsung C&T; stock rises in early trade

Shares of Reliance Industries Limited (RIL) opened in positive territory on Tuesday after the oil-to-telecom conglomerate signed a binding long-term Supply and Purchase Agreement (SPA) with Samsung C&T Corporation to supply green ammonia over a 15-year period beginning in the second half of FY29.

The agreement, valued at more than $3 billion, is among the largest binding long-term green ammonia offtake contracts globally and marks a significant step towards positioning India as an exporter of green fuels, according to a statement released by RIL.

Boosted by the development, shares of RIL rose by as much as 0.35% to ₹1,400 on the BSE in early trade, after ending 1.05% higher at ₹1,395.05 in the previous session. The market capitalisation of the country’s most valued firm rose to about ₹18.94 lakh crore, with around 0.13 lakh shares changing hands in opening trade.

Under the agreement, billionaire Mukesh Ambani-led RIL will supply green ammonia produced through an end-to-end domestic value chain aligned with India’s National Green Hydrogen Mission. The partnership is expected to support the scale-up of the company’s new energy platform and strengthen India’s role in the global clean-energy supply chain.

“The SPA sets a new benchmark in the global energy landscape, with India emerging as an exporter of green fuels produced through an end-to-end value chain anchored in the country, including the domestic manufacturing of critical clean-energy equipment, aligned with India’s National Green Hydrogen Mission,” the release noted.

Building an integrated new-energy ecosystem

RIL is developing a fully integrated new-energy ecosystem spanning renewable energy, energy storage, green hydrogen, and downstream green fuels and chemicals. The platform will also include domestic manufacturing of key clean-energy technologies such as solar modules, battery energy storage systems and electrolyser systems.

The company said the agreement with Samsung C&T is the first in a series of long-term offtake partnerships aimed at scaling its new energy business.

Founded in 1938, Samsung C&T operates a global trading and investment network with more than 70 offices in 40 countries and is engaged in the trading of industrial materials and the development of renewable energy projects such as solar and energy storage systems.

“We are proud to partner with Samsung C&T to supply green ammonia that is cost-competitive and reliable. This partnership marks an important step in India’s clean-energy journey,” said Anant Ambani, executive director at RIL.

He added that RIL’s new-energy initiative aims not only to advance the energy transition but also to build a strong industrial platform for India by integrating the country’s renewable resources with its manufacturing capabilities, talent, and innovation to produce value-added green fuels and chemicals at scale.

“At the heart of this vision is our commitment to indigenising the critical technologies of the energy transition—solar, battery energy storage systems and electrolysers—under a strong Make-in-India framework,” he said.

“Partnerships such as this will help scale our green hydrogen ecosystem and gigafactories, while contributing to India’s ambition of becoming a global hub for green hydrogen and its derivatives,” he added.

RIL is building its clean-energy manufacturing ecosystem at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, a 5,000-acre facility that will house gigafactories for solar modules, batteries, electrolysers, fuel cells, and power electronics. The complex will be integrated with renewable power projects in Kutch to support green hydrogen and ammonia production.

RIL, India’s largest private sector company, has committed to achieving net carbon-zero emissions by 2035.

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