MUMBAI: Reliance Industries is set to buy six very large ethane carriers (VLEC) from South Korea’s Samsung Heavy Industries Co Ltd for $600 million, said executives involved, marking the Mukesh Ambani-led company’s biggest maritime initiative in recent times. The deal is to be signed on Monday in Mongolia’s capital Ulan Bator, said people with knowledge of the matter. These bespoke carriers — the largest such ships to be built — will carry liquefied ethane, a key feedstock for petrochemicals, from the US to RIL’s refinery in Jamnagar off the coast of Gujarat. A very large ethane carrier is a hybrid of a liquefied natural gas (LNG) carrier and a liquefied petroleum gas (LPG) carrier. Ethane...
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