Home / Knowledge / News / Textiles / SACE loan support Reliance to expand petrochem plants
SACE loan support Reliance to expand petrochem plants
08
Feb '12
SACE has guaranteed a US$ 400 million equivalent loan granted to the major Indian petrochemical and oil & gas group, Reliance Industries, for the expansion and upgrading of the production capacity of its petrochemical plants, a gasification plant and refinery off-gas cracker as part of an investment plan in India worth over US$ 11 billion.

The SACE guarantee will support the contracts for the supply of goods and services awarded to several Italian companies, especially SMEs.

The announcement was made on the occasion of the signing ceremony hosted at SACE's Headquarters in Rome. “SACE's guarantee is both a relevant growth catalyst and an important leverage for the competitiveness of Italian exporters, along with quality and price of products - explained Alessandro Castellano, CEO of SACE, during the ceremony -. The deal signed today confirms our partnership with a key global player like Reliance Industries and paves the way for a further promotion of trade-related business between Indian and Italian companies, particularly the large number of small and medium-sized enterprises operating in the Country.”

This transaction, the fourth one concluded with Reliance Industries since 2004, brings to US$1 billion the overall credit facilities backed by SACE for the major Indian group.

SACE is fully engaged in its role of business facilitator in India and in supporting Italian companies in their export and investment activities in the Country, through a wide range of insurance and financial products, including guarantees on loans (in foreign currency) granted to major Indian companies. With a € 700 million project pipeline in India, SACE will open soon a new office in Mumbai that will act as a hub for South Asia.

SACE


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X