Oil & Natural Gas Corporation Limited has informed the Exchange regarding a press release dated January 27, 2026, titled "ONGC Joint Venture Companies sign shipbuilding contracts for two Indian-flag Very Large Ethane Carriers with Samsung Heavy Industries".
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ONGC's joint venture companies have signed contracts with South Korea-based Samsung Heavy Industries to build two Indian-flag Very Large Ethane Carriers (VLECs). The announcement is based on a press release dated January 27, 2026, shared with the stock exchanges. Very Large Ethane Carriers are specialised ships used to transport liquefied ethane in bulk across long sea routes. The deal is being executed through ONGC's joint venture entities rather than directly by ONGC. Indian-flag status means the vessels will be registered in India, supporting domestic maritime and shipping industry initiatives.
This is a long-term capital investment that strengthens ONGC's ethane transportation and supply chain capabilities, supporting its downstream petrochemical business. It is a positive operational signal but the financial impact will depend on contract value and delivery timelines, which are not disclosed in this filing.