IOCL avails Rs 28 billion term loan for Ennore LNG Terminal

Indian Oil Corporation Limited (IOCL) has availed of a term loan of Rs 28 billion from a consortium of six banks led by the State Bank of India (SBI) for financing its Ennore LNG terminal project. Juris Corp, a law firm specialising in bringing foreign investments into India, acted as the legal adviser to IOCL on securing financing for the Ennore LNG terminal. The project has been proposed to be developed by IOCL through Indian Oil LNG Private Limited, a special purpose vehicle, incorporated for the project.