IOC secures Rs 14,900 crore loan from 21 lender consortium for 15 MTPA Paradip refinery

Indian Oil Corporation has signed a rupee term loan agreement for Rs 14,900 crore with a consortium of 21 lenders led by State Bank of India.  The term loan facility will be to part finance Rs 33,504 crore investment for setting up 15 million metric tonne per annum (MMTPA) grass root refinery project at Paradip in Orissa.  This is the largest syndicated rupee term loan arranged so far in Indian Debt market for a single project.