India’s Reliance signs shipping agreement with Japan's Mitsui
Under the agreement, Mitsui will supervise construction of six very large ethane carriers (VLECs) and will operate the carriers after their delivery. The carriers are being built by Samsung Heavy Industries. Once operational, the carriers will be used to transport 1.5 million tons/year of ethane from Reliance’s US shale joint ventures to its chemical complex in Gujarat, India. The carriers, each with a value of $120 million, are expected to be delivered between October 2016 and January 2017.
Reliance currently has three shale joint ventures in America with an approximate total investment value of $3.59 billion.
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