ESSAR SHIPPING IN PACT WITH ESSAR OIL FOR PORT PROJECT
Article Abstract:
Essar Shipping Limited (ESL) is setting up a port and terminal at Vadinar in Gujarat, near the refinery of Essar Oil Limited (EOL). EOL will pay for the crude and petroleum products handled by ESL. ESL will benefit by the captive crude cargo. It will also avail tax benefits for the infrastructure project. The project is estimated to cost Rs1,435 crore. It has a debt-equity ratio of 2:1. Its internal accruals account for Rs479 crore. It plans to issue foreign currency convertible receipts for $50 million. It will avail foreign currency loans of Rs394 crore, rupee loans of Rs197 crore and external commercial borrowings (ECB) of Rs365 crore. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ESSAR SHIPPING CLOCKS Rs10-CR NET
Article Abstract:
Essar Shipping Ltd of the Essar group has posted a net profit of Rs10.23 crore on an income of Rs98 crore for the third quarter ended December 31, 1998. On an annualised basis, the company's net profit of Rs45 crore on an income of Rs326 crore for the nine months ended December 31, 1998 works out to an increase of 30 percent over the net profit of Rs45 crore on an income of Rs326 crore in 1997-98. (khr)
Comment:
Essar Shipping Ltd of the Essar group has posted a net profit of Rs10.23 crore on an income of Rs98 crore for the third quarter ended December 31, 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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