Essar signs $1 billion financing deal with China

MUMBAI (Reuters) - Essar Energy Plc on Tuesday signed a $1 billion financial cooperation agreement with the China Development Bank and PetroChina International Co. Ltd., according to a document seen by Reuters.

Detail of the deal - signed in Mumbai during a visit by the Chinese premier - were not immediately known.

Sources on Monday told Reuters that the debt would be backed by a supply of refined fuels by Essar Oil , a subsidiary of Essar Energy, to PetroChina.

(Reporting by Henry Foy; editing by Matthias Williams)