Essar signs $1 bln financing deal with China
Thursday, 23 May 2013
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.
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