Source : Moneycontrol.com

State Bank of India led consortium of 26 lenders , including Banks and LIC , has committed Rs 7793 crores to Guru Gobind Singh Refinery Ltd (GGSRL). SBI Capital Markets Ltd. (SBICAP) , the No. 1 mandated lead arranger and advisor in Asia Pacific as per Thomson PFI , is the sole financial advisor and arranger for India's largest FDI under Public/ Private Partnership. The syndication was over subscribed by Rs. 800 crore.

GGSRL is a JV between HPCL and Mittal Energy Investments Pte Ltd Singapore. The money will be used to construct a 9MMTPA greenfield refinery at Bhatinda in Punjab.

The project , which has a debt-equity ratio of 1.5:1 , envisages an outlay of Rs 13 ,789 crore. HPCL and Mittal Investments will be equal partners in the JV (49% each). The remaining 2% will be raised from Financial Investors.

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Posted by pichu at July 28, 2007 10:32 PM