Reliance Industries’ wholly owned subsidiary -- Reliance Ethane Holding Pte (REHPL) has invested in 34,300,000 ordinary shares of face value of $1 each for cash at par, in each of its three wholly owned subsidiaries, viz., Ethane Coral LLC, Ethane Diamond LLC and Ethane Jade LLC (Ethane LLCs), aggregating $102.90 million.
Ethane LLCs have entered into ship building contracts (SBCs) for purchase of Very Large Ethane Carriers (VLECs) and each Ethane LLC will own a VLEC. VLECs are being acquired for the transportation of Ethane. The investment is made to enable Ethane LLCs to make part payment towards cost of construction of three VLECs.
Ethane LLCs are limited liability companies incorporated on December 4, 2023 in the Republic of the Marshall Islands, to own VLECs and are yet to commence commercial operations.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
Company Name | CMP |
---|---|
Reliance Industries | 2903.00 |
Indian Oil Corp. | 171.55 |
BPCL | 609.40 |
HPCL | 490.65 |
MRPL | 251.10 |
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