India’s Reliance signs $3 bil renewable ammonia sales deal with Samsung C&T

Reliance Industries (RIL) has signed a 15-year binding agreement with South Korea's Samsung C&T Corp. to supply renewable ammonia, the Indian conglomerate said March 16, marking a step toward expanding Asia's emerging market for low-carbon fuels.

The supply and purchase agreement, valued at more than $3 billion, plans deliveries commencing in the second half of fiscal year 2028-29 (April-March), according to the statement from RIL.

"The agreement with Samsung C&T is the first in a series of long-term offtake partnerships supporting the scale-up of RIL's New Energy platform," according to the statement.

"RIL aims to deliver green energy solutions that are competitive, scalable, and reliable for global markets."

The firm is developing a fully integrated New Energy platform spanning renewable energy, energy storage, renewable hydrogen and downstream green fuels and chemicals, supported by in-house manufacturing of clean-energy technologies, it said.

Platts, part of S&P Global Energy, assessed India Renewable Hydrogen Term Contract at $3.19/kg on March 12 (weekly assessment), up 3.6% from a month earlier.

Gujarat Units

RIL's announcement comes in the wake of Chinese company Envision Energy announcing it exported a commercial shipment to South Korea's Lotte Fine Chemical from its Chifeng facility in Inner Mongolia.

The announcement also comes in the wake of Indian developer AM Green Ammonia's announcement of a binding agreement with German utility Uniper for 500,000 metric tons/year of renewable ammonia supply starting in 2028.

A central pillar of RIL's New Energy ecosystem is the indigenization of critical clean-energy technologies in India, including solar modules, battery energy storage systems, and electrolyzer systems, RIL said.

Overall, RIL's business activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, and renewables (solar and hydrogen), among others.

Through its New Energy business, RIL is building a large-scale solar and storage project in Kutch in Gujarat providing round-the-clock renewable power, feeding into the integrated renewable hydrogen and ammonia unit at Jamnagar, also in Gujarat, it said.

Partnership to help scale

The Dhirubhai Ambani Green Energy Giga Complex in Jamnagar is a 5,000-acre manufacturing hub housing gigafactories for solar modules, batteries, electrolyzers, fuel cells, and power electronics.

"Partnerships such as this will help scale our green hydrogen ecosystem and gigafactories," said Anant Ambani, executive director of the company, which has committed to achieving net carbon zero by 2035.

RIL is targeting 3 million mt/year of renewable hydrogen production capacity by 2032 and exports of renewable ammonia, renewable methanol, and sustainable aviation fuel, the firm told investors in August 2025.

India will be able to produce renewable hydrogen for $2/kg before the turn of the decade, RIL chairman Mukesh Ambani said in September 2021, adding it could potentially reach $1/kg.

Samsung C&T Trading & Investment Group operates a global business network specializing in the trading of key industrial materials -- including steel, chemicals, and non-ferrous metals -- and the development of renewable energy projects, it says on its website.

The South Korean company is engaging in the import, conversion and domestic utilization of overseas clean hydrogen, dedicated to unlocking business opportunities, it says.