Shares of Larsen and Toubro Ltd (L&T) are trading flat after touching a day’s high of Rs 3,716 on 13th August, despite the company announcing that its subsidiary, L&T Energy Greentech Ltd, has entered into a joint development agreement with Japan’s ITOCHU Corporation to develop and commercialise a 300 KTPA green ammonia project at Kandla in Gujarat.

Under the deal, ITOCHU will offtake the product for bunkering applications in Singapore, aiming to promote the use of clean energy in the maritime sector.

L&T had acquired land at Kandla last year for green hydrogen and green ammonia projects. ITOCHU stated that the partnership will facilitate the introduction of low-carbon ammonia as a zero-emission fuel, with Kandla serving as its primary production hub for bunkering operations in Singapore. 

L&T said the collaboration aligns with its vision of driving a cleaner, greener future through sustainable business practices.

At 2:23 PM, the shares of L&T were trading 0.35% higher at Rs 3,699 on NSE.

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