Essar Ports has sought relaxed loan terms from bankers even as it plans Rs 3,000 crore (including Rs 2,000 crore debt) new investments on three key Port projects that have recently got long-pending regulatory clearances, Rajiv Agarwal, CEO and MD of Essar Ports, said. Essar Ports has sought relief from bankers to spread out its existing Rs 6,000 crore loan obligations over a longer tenure. The company is in talks with bankers to migrate its debts to RBI´s 5/25 scheme, said Agarwal.
¨All regulatory clearances for these investments are now in place. Essar Ports plans to invest approximately Rs 3,000 crore for the new investments across east and west coasts. The investment will be made through a mix of debt and equity,¨ he said.
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