03 December 2012

Rs 750 crore Loan from a consortium of four banks to Kanpur Fertilizers & Cement Limited (KFCL)


Jaiprakash Associates Limited (JAL) has informed its share holders through the postal ballot that it has secured Rs 750 crore loan from a consortium of four banks for funding revival of Kanpur fertilizer plant (KFCL). JAL wants approval from share holders to provide security/guarantee to the consortium of banks.

Kanpur Fertilizers & Cement Limited (KFCL) is a subsidiary of Jaypee Uttar Bharat Vikas Private Limited (JUBVPL). JUBVPL is 50:50 equity participation joint venture between Jaypee Fertilizers & Industries Limited (JFIL) and ISG Traders Limited. JFIL is a wholly owned subsidiary of JAL whereas ISG Traders Limited is a wholly owned subsidiary of Duncan Industries Limited (DIL).

Jaiprakash Associates Limited’s (JAL’s) shareholders had already authorized it in August 2010 to invest up to Rs 2500 crore in the fertilizer business. Other promoter Duncan Industries Limited (DIL) had demerged its fertilizer business and transferred it to KFCL.

Kanpur based urea plant Kanpur Fertilizers & Cement Limited (KFCL) is a naphtha based urea producing company which was earlier known as Duncan Industries Limited (DIL). Presently the conversion work is in progress to make it gas based plant.          


Stay tuned to Fertiliser News Blog for more news on Kanpur Fertilizers & Cement Limited (KFCL)
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