Cairn India has reportedly tied up funds worth $1.6 billion (approx Rs
7,380.8 crore) from domestic and overseas lenders for the Barmer field in
Rajasthan where crude oil production has already begun.
Of the total, $850 million (approx Rs 3,921.05 crore) is likely to be used
for repaying the existing debt and to expedite other commissioned parts of the
Rajasthan project.
The company had borrowed $750 million (approx Rs 3,459.75 crore) and about Rs
3,921.05 crore (approx $850 million). The international borrowing consists of a
fully underwritten portion of $500 million (approx Rs 2,306.5 crore) by Standard
Chartered Bank, UK and a $250 million loan (approx Rs 1,153.25 crore) by
International Finance Corporation. The domestic borrowing has been underwritten
by State Bank of India.
Also See:
Cairn's crude supply terminal in Barmer to be inaugurated (29-Aug-09)
Related Links:
Project profile