GSPL India Transco has achieved financial closure for the construction of Mallavaram-Bhopal-Bhilwara-Vijaipur cross-country natural gas trunk pipelines and allied facilities.
The company signed an agreement on 29 June 2012 which will mature in June 2026 for Rs 5,080 crore (US$907million) 14-year loan to fund the construction of natural gas trunk pipelines and allied facilities. The loan is split into a term loan A of Rs 4,717 crore and sub debt of Rs 363 crore. It pays a fixed 11.25 per cent interest rate. Bank allocations are: Canara Bank (Rs 610 crore), Bank of India (Rs 463 crore), Dena Bank (Rs 460 crore), Punjab National Bank (Rs 460 crore), Syndicate Bank (Rs 460 crore), Union Bank of India (Rs 460 crore), Corporation Bank (Rs 400 crore), Punjab and Sind Bank (Rs 400 crore), United Bank of India (Rs 400 crore), Indian Bank (Rs 300 crore), Vijaya Bank (Rs 200 crore), Allahabad Bank (Rs 200 crore), State Bank of Mysore (Rs 140 crore) and Federal Bank (Rs 127 crore).
GSPL India Transco is a SPV promoted by Gujarat State Petronet (GSPL), IOC, HPCL and BPCL. GSPL holds 52 per cent in the project, while IOC has 26 per cent and HPCL and BPCL have 11 per cent each.