Samsung C&T, the construction and trading arm of Samsung Group, has secured a $3 billion deal from Reliance Industries of India to purchase green ammonia, according to the companies Tuesday.
Under the supply and purchase agreement, Samsung C&T's trading and investment division will receive green ammonia from Reliance Industries for about 15 years starting in October 2028 and supply it to its customers. The buyers were not disclosed due to confidentiality agreements.
A Samsung C&T official said the contract will help ensure a stable supply of green ammonia in the global clean hydrogen market and provide momentum to expand the company's hydrogen trading base.
The South Korean company has been expanding its hydrogen-related business in recent years, beginning with a hydrogen cooperation agreement signed with Malaysia's Petronas in 2022 and the completion of a hybrid hydrogen refueling station, called HyStation, in 2024. (Yonhap)
