Jindal Drilling constructing 350 ft cantilever offshore jackup rig

Jindal Drilling & Industries Ltd has announced that the Company through its offshore SPV, Discovery Drilling Pte Ltd (DDPL) is getting constructed one New built 350 ft cantilever offshore jackup rig from keppel fels, Singapore. This entire project has been underwritten by ICIC bank Ltd, Singapore branch on loan syndication basis.

This entire loan syndication arrangement of USD 130 million has Been finalised & closed on June 29, 2007 by DDPL. The five leading Global Banks viz. Intesa Sanpaolo S.P.A., Hong Kong, United Overseas Bank Ltd, Singapore, KBC Finance Ireland, Dublin. Industrial & Commercial bank of China (Asia) Ltd, Hong Kong, PT, Bank Negara Indonesia (Persero) TBK, Singapore have participated in this Syndication arrangement and also added to international visibility of the Company and the group.

The stock closed the day at Rs.736.50, up by Rs.5.45 or 0.75%. The stock hit an intraday high of Rs.756.40 and low of Rs.732.05. The total traded quantity was 15357 compared to 2 week average of 8310.

Source : Equity Bulls

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