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Infrastructure Developers & Operators, Mid Cap

L&T Energy GreenTech (LTEGL), a wholly-owned subsidiary of Larsen & Toubro, has signed a long-term partnership with ITOCHU Corporation of Japan. Under the partnership, LTEGL will supply ITOCHU, on a captive long-term take-or-pay basis, 300000 tonnes of green ammonia per annum from its proposed production facility at Kandla, Gujarat.

This latest agreement builds on the Joint Development Agreement (JDA) between the two companies signed in July 2025 and marks a significant progression in the partnership - from joint development to securing long-term demand. It reinforces the collaboration between LTEGL and ITOCHU, and advances the shared vision of establishing a globally competitive green ammonia value chain.

ITOCHU will utilise the green ammonia supplied from Kandla to support its expanding green bunkering applications, aligned with its strategy to develop a global green ammonia ecosystem across key maritime trade routes. Singapore, one of the world's leading marine fuel hubs, is emerging as a critical centre for ammonia bunkering. This represents an important step towards decarbonising the maritime sector and supports the growing adoption of low-carbon fuels in shipping.

The agreement also reinforces LTEGL's strategy to scale its green hydrogen and derivatives platform, positioning Kandla as a strategic export hub for low-carbon fuels. In line with India's National Green Hydrogen Mission, the project supports the country's ambition to become a leading exporter of green energy derivatives.

Through this partnership with LTEGL, supplies from Kandla are expected to support ITOCHU's bunkering operations in Singapore and other locations, enabling the early adoption of green ammonia as a next-generation marine fuel.

Under the agreement, LTEGL will supply 300,000 tonnes per annum of green ammonia on a captive, long-term take-or-pay basis from its proposed production facility at Kandla, Gujarat.

The agreement was signed in Tokyo by senior executives from both companies, in the presence of top leadership from Larsen & Toubro and ITOCHU Corporation. The deal builds on a Joint Development Agreement signed in July 2025, marking a shift from collaboration to securing long-term offtake.

ITOCHU Corporation will use green ammonia supplied from Kandla to expand its green bunkering operations as part of its global green ammonia ecosystem strategy across key maritime trade routes. Singapore, a major marine fuel hub, is emerging as a key centre for ammonia bunkering. The initiative marks a step toward decarbonising the maritime sector and supporting wider adoption of low-carbon fuels in shipping.

The company said the agreement reinforces LTEGL?s strategy to scale its green hydrogen and derivatives platform, positioning Kandla as a key export hub for low-carbon fuels. It also aligns with India?s National Green Hydrogen Mission, supporting the country?s goal of becoming a leading exporter of green energy derivatives.

Subramanian Sarma, deputy managing director & president ? L&T, said, ?The agreement with ITOCHU is a significant step in translating L&T?s clean energy ambitions into large-scale, bankable projects. By securing long-term demand through a reputed global partner like ITOCHU, we are strengthening the commercial foundation of our green ammonia platform while contributing meaningfully to global decarbonisation.

Hiroyuki Tsubai, executive vice president, member of the board and president of the Machinery Company, ITOCHU Corporation, said, ?Establishing a reliable and scalable supply of green ammonia is critical to accelerating its adoption as marine fuel. Our partnership with LTEGL provides a strong and credible supply base, enabling us to expand our bunkering business and support the shipping industry?s transition towards low-carbon operations.

L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies.

On a consolidated basis, L&T's net profit declined 4.27% year-on-year to Rs 3,215.11 crore in Q3 FY26, even as revenue from operations rose 10.48% to Rs 71,449.70 crore in Q3 FY26.

Shares of Larsen & Toubro slipped 1.25% to Rs 4,024.90 on the BSE.

Larsen & Toubro will hold a meeting of the Board of Directors of the Company on 5 May 2026.

Larsen & Toubro announced that its wholly owned subsidiary, L&T Realty Properties has completed the acquisition of 100% stake in International Green Scapes on 13 April 2026.