The ethane gas will be used to feed RIL’s crackers at Dahej, Hazira and Nagothane. Photo: ReutersMumbai: Reliance Industries Ltd (RIL) has raised a term loan of $573 million to part finance the construction of six ships for transportation of ethane from the US, the company said on Tuesday. RIL has ordered six very large ethane carriers (VLECs), which would transport ethane from the US to Dahej in Gujarat. “The facilities (loan) with door-to-door tenor of 12 years comprise of a Korea Trade Insurance Corp (K-sure) insured tranche of $286.5 million and a commercial tranche of $286.5 million. The facilities shall be secured by collateral of respective VLECs,” RIL added.

Source: Mint October 25, 2016 20:15 UTC