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EXIM BANK APPROVES US$ 400 MLN LOAN GUARANTEE TO RELIANCE INDIA.
NEW DELHI, Sep 1 Asia Pulse - Exim Bank of US has approved a US$400 million loan guarantee to Reliance Industries (BSE:500325) to import equipment and services for oil and gas exploration and production work in the Krishna Godavari basin.
"RIL will use Export-Import Bank's guaranteed financing for its purchase of US engineering services, oil field equipment, offshore platform support and drill and well services," the bank said in a press release.
The company is investing over US$4.3 billion in phase-I to bring to production oil and gas it found in deep-sea off the Andhra coast.
The bank said a small portion of the financing would also be used to support work at the under-construction export-oriented refinery at Jamnagar in Gujarat. The 580,000 barrels per day unit had received support from the bank last year.
"Primary US exporters for this ...
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Source: HighBeam Research, EXIM BANK APPROVES US$ 400 MLN LOAN GUARANTEE TO RELIANCE INDIA.