Reliance signs shipping agreements with one of the world’s largest and reputed shipping companies MITSUI O.S.K. LINES, LTD (MOL) for transporting Liquefied Ethane from North America to India.

MOL will supervise the construction of six Very Large Ethane Carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered.

Reliance, with this strategic tie-up with MOL, has achieved a key milestone for the successful implementation of Ethane import project to feed crackers in India.

About RIL

Reliance Industries Limited (RIL) is India’s largest private sector company, with a consolidated turnover of ` 4,46,339 crore (US$ 74.5 billion), cash profit of ` 33,980 crore (US$ 5.7 billion) and net profit of ` 22,493 crore (US$ 3.8 billion) for the year ended March 31, 2014.

RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ and continues to be featured for the 11th consecutive year, currently ranking 114th in terms of revenues and 155th in terms of profits. RIL ranks 194th in the Financial Times’ FT Global 500 2014 list of the world’s largest companies. As per Newsweek’s Green Rankings 2014, RIL is India’s greenest and most environment-friendly company, ranking 185th among the world’s largest 500 companies.