RIL makes Japan's Mitsui OSK Lines strategic partner in 6 ethane carriers

RIL had sourced these carriers as part of its Ethane gas project to transport the compound from US to its plants in India

Reliance Industries (RIL) has signed a deal with Mitsui OSK Lines (MOL) for a strategic stake sale in six very large ethane carriers (VLECs), the company said on Wednesday.

RIL had sourced these carriers as part of its Ethane gas project to transport the compound from the United States to its plants in India. Currently, MOL, a Japanese shipping company, is operating these vessels and will become a joint owner once the deal gets regulatory approvals. The Mukesh Ambani-promoted company did not disclose the deal value or the size of the stake being sold.

“Reliance Ethane Holding, a wholly-owned subsidiary