Reliance inks USD 3 bn pact with Samsung

Reliance Industries has inked a USD 3 bn pact to supply green ammonia to South Korean conglomerate Samsung Group's construction & trading arm under a 15-year contract, as per an exchange filing. Deliveries are set to begin in the second half of FY 2029.

The agreement ranks among the largest long-term green ammonia offtake pacts globally. Reliance stated the partnership will support its broader clean-energy ecosystem spanning solar modules, electrolyzers and battery storage, which is part of its USD 10 bn investment plan to diversify beyond its traditional oil-to-chemicals business.

Sound smart: Green ammonia, produced using hydrogen generated from renewable electricity, is increasingly viewed as a scalable fuel and a transport medium for green hydrogen. Asian economies are increasingly seeking low-carbon fuels to decarbonize heavy industry and power generation.

WPI in February

India’s wholesale prices rose 2.13% y-o-y in February, accelerating from 1.8% in January and slightly exceeding economists’ forecast of 2%, as per data from the Ministry of Statistics. Fuel and power prices continued to provide a deflationary cushion, dropping 3.7% y-o-y in February.

Food prices edge higher: Wholesale food inflation rose to 1.8% y-o-y in February from 1.4% a month earlier. Vegetable prices increased 4.7% y-o-y, although the pace eased from January’s 6.7% rise, indicating some moderation in price pressures. Prices of manufactured products — carrying the most weight in the Wholesale Price Index — rose 2.9% y-o-y in February, compared with 2.8% in January, suggesting steady cost pressures for producers.

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