Indian Gas Cos. Secure Financing For $2.5B Pipe Projects

Law360, New York (July 9, 2012, 6:31 PM EDT) -- A consortium led by Gujarat State Petroleum Corp. Ltd. has landed two bank loans to fund the bulk of its sweeping, 137-billion-rupee (US$2.45 billion) plan to construct a trio of trans-India gas pipelines, the companies announced in recent securities filings.

Gujarat State Petronet Ltd., the distribution arm of state-owned exploration and production outfit GSPC, nailed down nearly 96 billion rupees’ worth of financing from two Indian bank syndicates, representing about 70 percent of the project funds, according to a June 29 filing with the National Stock...
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