Gujarat State Petronet Ltd led Joint Venture Company namely GSPL India Transco Limited has entered into an agreement on June 29, 2012 for syndicate loan of INR 5,080 Crores with a consortium of 14 Banks for its upcoming Mallavaram - Bhopal - Bhilwara - Vijaipur Pipeline Project.

Further, another Joint Venture Company of GSPL namely GSPL India Gasnet Limited had entered into an agreement for Syndicate loan of INR 4516 Crores with a consortium of 12 Banks for its Mehsana - Bhatinda - Jammu - Srinagar Pipeline Project.

With this, GSPL led Joint Venture Companies have achieved Financial Closure for the three Cross Country Pipeline Projects. The total investment for these three Projects would be INR 13,704 Crores out of which 70% fund will be arranged through debt syndication of INR 9596 Crores and the rest 30% will be raised through equity infusion of INR 4108 Crores by the JV partners viz Gujarat State Petronet Limited (52%), Indian Oil Corporation Limited (26%), Bharat petroleum Corporation Limited (11%) & Hindustan Petroleum Corporation Limited (11%).

Source - Equity Bulls

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