Reliance Ethane Holding invests Rs 853 crore in subsidiaries
Reliance Ethane Holding Pte Ltd. (REHPL) a wholly owned subsidiary of oil-to-telecom conglomerate Reliance Industries has invested Rs 284 crore each in three of its subsidiaries–Ethane Coral LLC, Ethane Diamond LLC, and Ethane Jade LLC– aggregating to Rs 852.8 crore ($102.90 million).
Ethane LLCs have entered into ship-building contracts (SBCs) to purchase 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 the cost of construction of three VLECs.
