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Petrochemicals

17 December 2010

Archean raises Hajipur chemicals plant debt Archean has closed a combined dollar and rupee-denominated facility for its marine chemicals complex at Hajipir in Gujarat, India. The project will produce 2 million tonnes per year (tpy) of industrial grade salt, 100,000 tpy of sulphate of potash and 2,500 tpy of bromine and green bromine. The financing comprises a Rs2.6 billion ($58 million) 10-year loan, a $67.5 mil­lion eight-year loan and Rs2.8 billion in equity. The deal is lead arranged by SBI Capital with Allahabad Bank, Bank of Baroda, Bank of India, Canara Bank, Punjab National Bank and Union Bank of India as participants. Amarchand & Mangaldas provided lender legal counsel. Jurong Aromatics syndicated The $1.56 billion Jurong Aromatics fin­an­c­ing has closed oversubscribed with commitments from 11 banks, including bookrunners RBS and ING Bank. ING is also advising the project spon­sors, which are led by SK Group of Korea, Jiangsu Sanfangxiang Group of China...


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