Besides, the company will also avail a Rs 300 crore bank guarantee from State Bank of India. It will be in favor of the Government of India as per the New Urea Investment Policy - 2012 requirements.
In a regulatory filing, Chambal Fertilisers & Chemicals Ltd today said it has executed a loan agreement with SBI for term loan of Rs 500 crore and with Axis Bank for term loan of Rs 557.85 crore.
The bank guarantee is issued in favor of the Government of India as per the New Urea Investment Policy - 2012 requirements.
Sources said that with these two fund raising activities, the company has completed financial closure for establishing new urea plant.
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