The project strongly proves that the major shareholders of Chennai Petroleum (also the largest refineers in India) are on the track of rapid expansion.The main goal of its expansion is to increase the output of basic fuel such as diesel and gasoline to meet the surging demand in India.It is particularly worth mentioning that in the global oil refining industry, when the United States and Europe are facing severe challenges in recession, this move from Chennai Petroleum is particularly critical.In contrast, in India, due to actively promoting the process of decarburization in the transportation sector, the industry's focus is more shifting to the production and development of petrochemical products.
The project has also had a profound impact internationally. Among them, Iranian Petroleum Corporation became an important shareholder of Chennai Petroleum Corporation with its subsidiary NAFTIRAN Intertrade Co., Ltd., holding 15.4%of the company's shares.However, it is clear that although these Iranian entities have made relevant investment, they will not directly involve the construction process of the new refinery.According to relevant clarification information, Indian Petroleum Corporation holds 75%of the new factory that officially named the Cauvery Basin Refinery Project, while Chennai Petroleum retains the remaining 25%of the shares.Jaipur Wealth Management
SBI Capital Market, as a professional department of the National Bank of India, has been officially designated as a loan seller consultant for the financing transaction of Chennai Petroleum Corporation.This appointment undoubtedly adds more credibility and professionalism to the financial arrangement of the project.New Delhi Stock Exchange
According to reports, Bharat Petroleum Corp., an important company in India's refining industry, is negotiating with loan institutions to raise huge amounts of funds of about 320 billion rupees (about 3.8 billion US dollars).According to a report by Bloomberg News at the end of August, if the potential loan is successful, it will become the largest bond loan received by Indian companies this year.
This series of major financing actions adopted by Chennai Petroleum and Ballat Petroleum fully demonstrated the ambitious growth strategic blueprint of the Indian petroleum industry, and further highlights its core pillar status in the process of rising national energy demand.EssenceAs the Indian economy continues to maintain a steady growth trend, the demand for strong and efficient refining infrastructure has become increasingly urgent and significant.In this context, the Cauvery Basin oil refining project not only occupies a pivotal position, but also has an important value for Indian energy security and sustainable economic growth.
Translation: Liu Yan (WeChat Department)Jaipur Investment
Audit: Guo Jiajing (WeChat Department)
Audit: Liu Yan (WeChat Department)
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