Chambal Fertilisers to raise over Rs. 1,000-crore from banks for new urea unit

摘要

Chambal Fertilisers & Chemicals Ltd. will raise Rs. 1,057-crore loan from SBI and Axis Bank to establish a new urea unit at its existing plant in Kota, Rajasthan. Besides, the company will also avail a Rs. 300-crore bank guarantee from SBI. It will be in favour of the Government of India as per the New Urea Investment Policy-2012 requirements. In a regulatory filing, Chambal Fertilisers said it has executed a loan agreement with SBI for term loan of Rs. 500-crore and with Axis Bank for term loan of Rs. 557.85-crore.