Dhunseri Petrochem’s (DPL) joint venture (JV) entity -- Egyptian Indian Polyester Company S.A.E (EIPET) -- has paid an amount of $87 million on May 24, 2018 to Commercial International Bank (CIB) (Egypt) S.A.E., Ahli United Bank Egypt S.A.E., Ahli United Bank B.S.C. and International Finance Corporation towards full and final settlement of the outstanding dues owed by EIPET to the Lenders. To enable EIPET to pay the settlement amount to the lenders, the company has through internal accruals and short term bridge financing raised in India, infused the same into EIPET.
DPL cultivates, processes and markets tea, and manufactures petrochemicals. The company produces polyethylene terephthalate (PET) resin.
