Swan Energy to raise funds for Rs 5,600 cr project at Jafrabad LNG port

Lenders' consortium will take a call on allowing SEL to raise funds by the end of July

Mumbai-based Swan Energy (SEL) is set to raise an undisclosed amount by next month to set up a Rs 5,600 crore jetty-moored floating, storage and regasification unit (FSRU) at the upcoming Jafrabad LNG port, Gujarat, through the joint venture company Swan LNG.

According to sources, a lenders’ consortium will take a call on allowing SEL to raise funds for the project by the end of July. The project, which is likely to be commissioned by the last quarter of financial year (FY) 2019-20, has already seen some investment by SEL through Swan LNG. 

Already, port construction has begun with engineering,