Business | Oil & Gas
Reliance aims to borrow $1b to fund expansion
Reliance Industries Ltd, India's biggest company, is seeking to borrow $1 billion to fund its expansion projects, three people with knowledge of the deal said.
- Bloomberg
- Published: 23:06 June 16, 2008
Mumbai: Reliance Industries Ltd, India's biggest company, is seeking to borrow $1 billion to fund its expansion projects, three people with knowledge of the deal said.
The company may hire banks to arrange the five-year loan in the next couple of weeks, said the people, who declined to be identified because the information isn't public.
Reliance is building an oil refinery in the western Indian state of Gujarat that will create the world's biggest such complex.
The company will complete the refinery this year to process oil into gasoline, diesel and naphtha for exports to the US, Europe and the Middle East.
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