In a strategic move to accelerate its green energy initiatives, Mukesh Ambani-led Reliance Industries Limited (RIL) is set to acquire a 74% stake in Nauyaan Shipyard from Welspun Corp for ₹383 crore. This acquisition provides Reliance with access to 138 acres of leasehold land in Dahej, Gujarat — a location near the company’s existing petrochemical manufacturing hub.
Welspun Corp, owned by B K Goenka, initially acquired 165 acres of land, including 1,000 metres of waterfront and old ships, from the insolvent ABG Shipyard in January 2023 for ₹659 crore. Reliance’s interest in the Nauyaan Shipyard aligns with its broader plan to establish infrastructure for salt storage, brine preparation, and hydrogen electrolyser manufacturing as part of its green hydrogen ecosystem.
The acquisition will unfold through Reliance Strategic Business Ventures, a wholly-owned subsidiary. As part of the transaction structure, Reliance will first purchase 100% equity in Nauyaan Tradings from Welspun Tradings for a nominal value of ₹1 lakh. Nauyaan Tradings, incorporated on March 3, 2025, will then acquire the 74% stake in Nauyaan Shipyard from Welspun Corp for ₹383 crore.
The total enterprise value of Nauyaan Shipyard, encompassing debt and equity, stands at ₹644 crore. This strategic land acquisition indicates a shift from traditional maritime operations towards green energy infrastructure. In line with this vision, Reliance New Energy, established in 2023, aims to develop electrolyser facilities with an initial capacity of 1 GW.
This move marks another milestone in Reliance’s ambitious pursuit of sustainable energy solutions, reinforcing its commitment to transforming India’s energy landscape.
