Reliance Industries Acquires Nauyaan Shipyard to Boost Hydrogen Manufacturing
Key Ideas
- Reliance Strategic Business Ventures acquires Nauyaan Shipyard through NTPL to expand hydrogen electrolyser manufacturing and other activities near Dahej facility.
- The acquisition valued at Rs 517.21 crore is part of RIL's partnership with Nel ASA to deploy alkaline electrolyser technology for green hydrogen production.
- Nauyaan Shipyard's site in Dahej aligns with India's National Green Hydrogen Mission, aiming to establish the country as a global green hydrogen hub by 2030.
- The strategic move showcases Reliance's commitment to green energy initiatives and investment in sustainable manufacturing for domestic and global markets.
Reliance Industries, through its subsidiary Reliance Strategic Business Ventures (RSBVL), has acquired a 100% stake in Nauyaan Tradings Private Limited (NTPL) for Rs 1 lakh. NTPL will facilitate the acquisition of a majority stake in Nauyaan Shipyard Private Limited (NSPL), which owns 138 acres of land near RIL's Dahej manufacturing coastal facility. Following this acquisition, NTPL has entered into a share purchase agreement with Welspun Corp Limited to acquire a 74% equity stake in NSPL for Rs 382.73 crore. The transaction values NSPL at Rs 517.21 crore, with plans for hydrogen electrolyser manufacturing among other activities on the acquired site. RIL's partnership with Norway's Nel ASA grants them the technology license to manufacture and deploy alkaline electrolyser technology, supporting green hydrogen production. The acquisition of Nauyaan Shipyard aligns with India's National Green Hydrogen Mission, showcasing Reliance's commitment to sustainable practices and investment in green energy initiatives for both domestic and global markets.