NEW DELHI : Oil and Natural Gas Corporation(ONGC) will take a 50 per cent stake in two joint venture companies that will own and operate very large ethane carriers (VLECs) in partnership with Japan’s Mitsui OSK Lines, marking the state-owned firm’s entry into specialised ethane shipping.
ONGC, in a statement, said it has signed joint venture and capital contribution agreements with Mitsui OSK Lines Ltd (MOL) to invest in Bharat Ethane One IFSC Pvt Ltd and Bharat Ethane Two IFSC Pvt Ltd, both registered in GIFT . . .
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