Article: India : Essar Shipping to achieve financial closure for Vadinar terminal in October.

Byline: manish03

Essar Shipping Ports and Logistics Ltd is in advanced stages of closing financial closure for the INR 939 crore expansion of its Vadinar oil terminal in Gujarat.

According to sources, ESPLL is likely to complete financial closure of the oil terminal expansion program by mid-October 2009. The project is being financed through a debt of INR 660 crore and equity of INR 279 crore. A consortium of Indian banks is participating in the deal.

The oil terminal at Vadinar, operated by a subsidiary of ESPLL- Vadinar Oil Terminal is an all weather, deep draft port, providing crude oil and petroleum products storage, handling and terminal ...

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