Reliance Petroleum will raise $500
million (about Rs.1,998 crore) for its 27 million tpa Jamnagar refinery project.
Bank of Tokyo-Mitsubishi UFJ, HSBC
(0005.HK), Mizuho Corporate Finance and Sumitomo Mitsui Banking are among six
banks that have been mandated to arrange financing for the proposed refinery.
The company plans to use this amount for the final phase of completion of the
refinery project. The refinery is expected to begin commercial production by the
second quarter of 2008-09.
Also See:
Reliance Jamnagar
refinery 65 pc complete (17-Jul-07)