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GSPL led JVC enters into an agreement for syndicate loan of Rs 5,080 crore

30 Jun 2012 Evaluate

Gujarat State Petronet (GSPL) led joint venture company (JVC) namely - GSPL India Transco, has entered into an agreement on June 29, 2012 for syndicate loan of Rs 5,080 crore with a consortium of 14 banks for its upcoming Mallavaram - Bhopal - Bhilwara - Vijaipur Pipeline Project.

Further, another JVC of GSPL namely GSPL India Gasnet had entered into an agreement for syndicate loan of Rs 4,516 crore with a consortium of 12 banks for its Mehsana - Bhatinda - Jammu - Srinagar Pipeline Project.

With this, GSPL led JVC have achieved financial closure for the three cross country pipeline projects. The total investment for these three projects would be Rs 13,704 crore out of which 70% fund will be arranged through debt syndication of Rs 9,596 crore and the rest 30% will be raised through equity infusion of Rs 4,108 crore by the JV partners - Gujarat State Petronet (52%), Indian Oil Corporation (26%), Bharat petroleum Corporation (11%) and Hindustan Petroleum Corporation (11%).

Gujarat State Petronet is a subsidiary Gujarat State Petroleum Corporation (GSPC). It has taken initiative in developing energy transportation infrastructure in Gujarat and connecting major natural gas supply sources and demand markets.

Guj. State Petronet Share Price

272.35 19.60 (7.75%)
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Company Name CMP
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