Thesynergyonline Corporate Bureau
The agreement :
NEW DELHI, MAY 01 : : GAIL (India) and State Bank of India (SBI) today signed a Rupee Term Loan Agreement for Rs 2,000 crore having a door to door tenure of 15 years. The purpose of the loan is for general capital expenditure of GAIL, mainly in the gas pipeline projects, in the forthcoming years.
The agreement was signed here in the presence of Mr Subir Purkayastha, Director (Finance) GAIL, Mr S. K. Pradhan, General Manager, SBI and Mr A. K. Tiwari, ED (Finance), GAIL. In their discussions, GAIL and SBI officials said that the Loan Agreement is an important milestone in the mutually beneficial relationship that the two organisations share in their path of growth