Reliance, Samsung Sign $3 Billion Pact for Green Ammonia Supply

Reliance Industries Ltd. signed a $3 billion agreement with South Korea’s Samsung C&T Corp. for supplying green ammonia, as billionaire Mukesh Ambani pushes to build a renewable energy portfolio.

The binding, long-term supply and purchase agreement is for 15 years starting in the second half of the year ending March 2029, the Indian conglomerate said in a statement to exchanges Monday. The agreement is the first in a series of partnerships that will support the expansion of Reliance’s new energy unit, it said.