Samsung C&T, the construction and trading arm of the Samsung Group, has announced a significant $3 billion deal with Reliance Industries of India for the purchase of green ammonia. The agreement was revealed by both companies on Tuesday.
The supply and purchase agreement stipulates that Samsung C&T’s trading and investment division will receive green ammonia from Reliance Industries for a duration of approximately 15 years, commencing in October 2028. This green ammonia will then be supplied to Samsung C&T’s customers. The identities of the buyers remain undisclosed due to confidentiality agreements.
According to a Samsung C&T official, this long-term contract will ensure a stable supply of green ammonia, a crucial component in the emerging global clean hydrogen market. Furthermore, it is expected to provide significant momentum for the expansion of Samsung C&T’s hydrogen trading base and its involvement in the clean energy sector.
