ONGC Invests Rs 0.4 Billion in Ethane Shipping JVs

28 Jan 2026 CW Team

Oil and Natural Gas Corporation Limited has completed its equity investment in two joint venture companies formed with Japan’s Mitsui O.S.K. Lines Ltd, strengthening its logistics capabilities for ethane transportation to India.

In a regulatory filing, ONGC said it has been allotted 200,000 equity shares each in Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited at a face value of Rs 100 per share through private placement. With a total investment of Rs 0.4 billion, ONGC has become a 50 per cent joint venture partner in both entities alongside Mitsui O.S.K. Lines Ltd.

The two joint ventures, incorporated in September 2025 and registered at GIFT City in Gandhinagar, are yet to commence operations. Each joint venture will own one very large ethane carrier, which will be deployed to transport ethane from the United States to meet the feedstock requirements of ONGC Petro additions Limited, the company said.

ONGC clarified that the acquisition does not fall under related party transactions and that neither the promoter nor the promoter group has any interest in the entities beyond the joint venture structure. The state-owned company also said approvals from the Department of Investment and Public Asset Management have been obtained, with the transaction expected to be completed in January 2026.

The investment is seen as a strategic move to secure long-term ethane supply logistics for OPaL’s petrochemical operations, while also expanding ONGC’s presence in the specialised shipping segment through international partnerships.

Shares of ONGC Ltd closed 0.47 per cent higher at Rs 243.50 ahead of the announcement. The stock has gained 3.98 per cent over the past month.

Real Estate

20 Feb 2026

Supreme Court Clears NBCC to Complete 16 Stalled Supertech Projects

In a significant relief to thousands of homebuyers, the Supreme Court of India has upheld the order of the National Company Law Appellate Tribunal (NCLAT) directing NBCC to complete 16 stalled residential projects of debt-ridden Supertech Ltd.The apex court, in its final order delivered on February 5, 2026, restrained all courts and tribunals from passing any directions that could stall or obstruct the execution of the NBCC-led completion plan. The decision impacts nearly 51,000 homebuyers who have been awaiting possession of their flats for over a decade.Years of delaySupertech launched and p..

Telecom Underpins India's AI Revolution, MoS Says

At the India AI Impact Summit, the Minister of State for Communications and Rural Development said that telecom infrastructure constitutes the foundational layer of the country's artificial intelligence ecosystem and described connectivity as a form of sovereignty. He argued that inclusive digital connectivity is central to India's technological leadership and the empowerment of citizens. The address framed telecom as essential not merely for communication but for enabling AI-driven opportunities across sectors. He noted that broadband subscribers rose from 60 million (60 mn) in 2014 to one bi..

India and Ireland Deepen Digital and Telecom Cooperation

India and Ireland held a bilateral meeting in New Delhi in which the Union Minister for Communications, Jyotiraditya Scindia, led the Indian delegation and Jack Chambers led the Irish delegation. The meeting at Sanchar Bhawan sought to deepen cooperation in telecommunications, digital infrastructure, emerging technologies and regulatory collaboration. Senior officials from the Department of Telecommunications and Ireland's Commission for Communications Regulation attended to chart a roadmap for future networks. Both sides noted complementarities between India's scale and rapid deployment capab..