Reliance Industries Limited has announced its intention to acquire a 74% stake in Nauyaan Shipyard, owned by Welspun Corp, for Rs. 383 crores. This strategic acquisition will grant Reliance access to 138 acres of land near its petrochemical manufacturing facility in Dahej, Gujarat. The acquired land will be crucial for expanding Reliance's green hydrogen activities, with plans to develop facilities for salt storage, brine preparation, and hydrogen electrolyzer manufacturing. Additionally, Reliance will purchase Nauyaan Trading, a Welspun Corp subsidiary, for Rs. 1 Lakh, further solidifying its commitment to green manufacturing and clean energy initiatives. This acquisition is part of Reliance's broader strategy to transition traditional marine activities to sustainable practices, contributing to larger sustainability goals. The move also coincides with the establishment of Reliance New Energy, a subsidiary dedicated to electrolyzer manufacturing, in line with the company's vision of becoming a key player in India's green hydrogen sector.