NRL takes 18k crore loan for expansion

Guwahati:

Numaligarh

Refinery Limited has achieved financial closure for its upcoming 6

MMTPA

refinery expansion project by tying up for a project debt of Rs 18,904 crore with consortium of 12 lender banks led by the State Bank of India. This is the largest fund raising by a single borrower in northeast India.

NRL

, co-owned by Oil India Limited, Assam government and Engineers India Limited, is pursuing a mega integrated refinery capacity expansion project to treble its refining capacity from 3 MMTPA to 9 MMTPA at a cost of Rs 28,026 crore. As a part of the project, the company is also laying a crude oil pipeline (approximate 1,640 km) from Paradip, Odisha, to Numaligarh along with a crude oil import terminal at

Paradip

for receipt of imported crude.NRL deputy general manager (corporate communication) Madhuchanda Adhikari Choudhury in a statement said the loan agreement-signing ceremony was held in Guwahati on Thursday and attended by senior officials of all the member consortium banks, representatives from Oil India Limited, government of Assam and other stakeholders.OIL CMD and chairman of NRL, SC Mishra, in his audio-visual message committed to extend continuous support for this endeavour.SBI chairman Dinesh Kumar Khara in his audio-visual message expressed his delight in being the lead banker in fuelling the growth story of northeast through Numaligarh Refinery Expansion Project.