| Press
Releases |
| Essar
Shipping Limited Fully Redeems Indian Rupees, Non Convertible
Debenture of INR 78.54 crs (USD 17.82 million) |
| April 01, 2004 |
|
|
Essar Shipping Limited (ESL)
has informed the Bombay Stock Exchange on 30th March 2004
that it has fully redeemed Non Convertible Debentures of
INR 78.54 crs (USD 17.82 million).
ESL had raised the aforesaid
debentures, which were subscribed by Unit Trust of India
(UTI) in November 2002. As part of its strategy to reduce
interest cost, ESL has pre paid or fully paid as scheduled,
Indian Rupee borrowing amounting to total of INR 107.54
crs (USD 24.40 million).
ESL, is the world's leading integrated
sea logistics company and market leader in providing optimal
integrated sea logistics solutions through a diversified
fleet of vessels, storage facilities and supply chain management
services. The company has a fleet of 30 vessels including
Very Large Crude Carrier, Suezmax Tankers, Bulk Carries,
Product Tankers, Mini Bulk carriers and Tugs.
It is a
part of Rs. 17000 cr. (USD 4.50 billion) Essar Group having
presence in steel, power, telecom, oil & gas
and constructions. |
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