ONGC Acquires 50% Stake in Two JVs with Mitsui OSK for ₹40 Cr to Boost Ethane Transport

• ONGC invested ₹40 crore to acquire a 50% equity stake in two joint venture companies: Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited.
• These JVs, formed with Japan's Mitsui O.S.K. Lines Ltd, aim to strengthen ONGC's logistics for ethane transportation.
• Each JV will own a very large ethane carrier (VLEC) to transport ethane from the United States for ONGC Petro additions Limited (OPaL).
• The investment involves the allotment of 200,000 equity shares at ₹100 each in both entities through private placement.
• The strategic move secures long-term ethane supply logistics for OPaL and expands ONGC's presence in specialized shipping.

Why It Matters: ONGC's ₹40 crore investment in two JVs with Mitsui OSK secures ethane transport logistics for OPaL.