Moneycontrol
Apr 20, 2017 10:03 AM IST | Source: Moneycontrol.com

Reliance rises over 1% as co commissions world's largest Ethane project in record time

Reliance is the first company to globally conceptualize large-scale imports of ethane from North America as feedstock for its cracker portfolio in India.

Reliance rises over 1% as co commissions world's largest Ethane project in record time

Moneycontrol News

Petrochemical major Reliance Industries share price gained more than 1 percent intraday Thursday after the company successfully completed its Ethane Project in record time.

"...announces successful and flawless completion of its Ethane Project, including commissioning of its ethane receipt & handling facilities and ethane cracking, at its Dahej Manufacturing facility in Gujarat in a world record time of less than three years," the company said in its filing.

Reliance is the first company to globally conceptualize large-scale imports of ethane from North America as feedstock for its cracker portfolio in India.

The project involved seamless integration of several elements across a complex infrastructure value chain. This included securing ethane refrigeration capacity in the US Gulf coast; delivery of dedicated Very Large Ethane Carriers (VLECs) to carry ethane from the US Gulf Coast to the west coast of India; construction of ethane receipt and handling facilities; laying pipelines and upgrading crackers (to receive ethane) at Dahej, Hazira and Nagothane manufacturing facilities, Reliance said.

The Shale Gas industry in North America has grown exponentially in the past 5 years. Consequently ethane has become one of the most competitively priced feedstock for US crackers.

The supply of Ethane to its crackers at Dahej, Hazira and Nagothane will provide feedstock security and flexibility, enabling it to select the most optimal feed mix based on market conditions. This will improve the cost competitiveness of its existing crackers and enable it to optimise the portfolio in a volatile market environment, the company said.

At 09:51 hours IST, the stock was quoting at Rs 1,375.00, up Rs 5.15, or 0.38 percent on the BSE.

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.
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