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IOC to raise Rs.18,000 cr debt for Orissa refinery project

Thursday, 04 Sep 2008
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Indian Oil Corporation (IOC) is planning a combination of domestic and international borrowings to finance its proposed Rs.30,000 crore Paradeep refinery in Orissa.

The company will raise Rs.14,000 crore from a consortium of 22-24 banks with SBI Caps acting as lead facilitator. Another Rs.4,000 crore will be mopped up via the external commercial borrowing (ECB) route and another Rs.12,000 crore will be invested by IOC as equity.

Financial closure for the project is expected to be achieved by end 2008.

Also See:

IOC to invest Rs.12,000 crore to meet Euro-IV deadline (02-Sep-08)

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