Essar Oil secures credit facility to meet tax liability

摘要

Singapore—Indian refiner Essar Oil has secured a Rupees 50 billion ($900 million) loan facility with Indian banks to meet its deferred sales tax liability of Rupees 61.68 billion owed to the state government of Gujarat, Essar Oil’s parent Essar Energy said in a statement July 23. Essar Oil continues to pursue the matter of a schedule for repayment of the sales tax liability both by legal means and with the government of Gujarat, London-listed Essar Energy said in a statement.