Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

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Fauji Fertilizer to invest $121 million in Thar Energy

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Fauji Fertilizer (FFC) today announced that it seeks to invest a total sum of $121 million in Thar Energy (TEL) with equity investment of $ 39 million and sponsor support commitments of up to $82 million in Thar Energy.

Board members at the company had approved plans to invest in the Thar Energy Limited in a meeting held back in January 30th, 2018. The company had earlier approved an investment of $10 million in Thar Energy Limited making TEL into an associated company of FFC.

The company further approved a $39 million equity investment in the company – including the already invested $10 million – and sponsor support commitments of up to an additional $82 million bringing the total investment to $121 million.

Posted on: 2018-04-03T14:18:00+05:00