Reliance Industries signs shipping agreements with one of the world's largest and reputed shipping companies MITSUI O.S.K. LINES, (MOL) for transporting Liquefied Ethane from North America to India.

MOL will supervise the construction of six Very Large Ethane Carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered.

Reliance, with this strategic tie-up with MOL, has achieved a key milestone for the successful implementation of Ethane import project to feed crackers in India.

Shares of the company declined Rs 7.1, or 0.79%, to settle at Rs 886.80. The total volume of shares traded was 671,806 at the BSE (Wednesday).