Themis Medicare to get External Commercial Borrowings (ECB Loan) worth US$ 4 million

Themis Medicare Ltd has announced that the Company has executed an agreement with their foreign Collaborators, M/s. Gedeon Richter Ltd., Hungary for ECB Loan of US $ 4.00 million.

The loan will availed during the calendar year 2007 and is repayable by the calendar year 2012 at LIBOR rate. The aforesaid loan will be utilized to increase, upgrade and modernize Company's existing Synthetic and Biotech API production facilities at Vapi and Hyderabad respectively as well as to further strengthen and modernize Quality control Infrastructure, Utility and Effluent Treatment Plant etc thereat.

Source : Equity Bulls

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