L&T Energy GreenTech Ltd (LTEGL), a wholly-owned subsidiary of Larsen & Toubro, has signed a long-term supply agreement with Japan’s ITOCHU Corporation to deliver 300,000 tonnes of green ammonia per annum on a captive take-or-pay basis. The ammonia will be produced at a proposed facility in Kandla, Gujarat.
The agreement was signed in Tokyo at ITOCHU’s headquarters by Derek M Shah, CEO & MD of LTEGL, and Hiroyuki Tsubai, Executive Vice President and President of ITOCHU’s Machinery Company. L&T Chairman & MD S N Subrahmanyan and Deputy MD Subramanian Sarma were present at the signing.
The deal advances the two companies’ relationship beyond the Joint Development Agreement they signed in July 2025, now moving from development-stage collaboration to securing committed long-term offtake.
ITOCHU plans to deploy the green ammonia for marine bunkering, with Singapore — a major global marine fuel hub — among the primary target markets. The move is part of ITOCHU’s broader push to build a green ammonia supply chain across key maritime trade routes as shipping lines seek to cut emissions.
For L&T, the agreement supports its ambition to position Kandla as a major export hub for low-carbon fuels, in alignment with India’s National Green Hydrogen Mission.
On the NSE, L&T shares were trading at ₹4,049, down 0.65 per cent. The stock has gained over 24 per cent in the past year and has delivered roughly 203 per cent returns over five years. The company carries a total market capitalisation of approximately ₹5.57 lakh crore. The deal announcement comes as the stock trades near the lower end of its intraday range of ₹4,022–₹4,070, against a 52-week high of ₹4,440 hit in February 2026.
Published on April 22, 2026