Hindustan Petroleum to raise $1 bn offshore for refinery

Hindustan Petroleum to raise $1 bn offshore for refinery
Comment E-mail Print Share
First Published: Wed, Jul 04 2007. 05 50 PM IST
New Delhi: Chairman Arun Balakrishnan said on Wednesday (4 July) that Hindustan Petroleum Corp will raise $1 billion (Rs4,040 crore) in foreign borrowings over four years to fund its proposed 9 million-tonne refinery in north India.
He said the company had received a commitment for an Rs80 billion ($2 billion) loan from a consortium of 26 banks that was led by State Bank of India (SBI).
Comment E-mail Print Share
First Published: Wed, Jul 04 2007. 05 50 PM IST