By: ICN Bureau
Last updated : August 26, 2021 8:32 pm
The approximate cost of upgradation of the ammonia plant would be Rs395cr to be met with a debt of Rs 280 crore and internal accruals of Rs 115 crore.
Mangalore Chemicals and Fertilizers Limited has completed the financial closure for term loans with Punjab National Bank, State Bank of India, and ICICI Bank Limited for a total debt of Rs 280 crore for upgradation of ammonia plant to achieve a reduction in energy consumption and increase in capacity.
The approximate cost of upgradation of the ammonia plant would be Rs395cr to be met with a debt of Rs280cr and internal accruals of Rs115 crore.