Dhunseri Petrochem’s joint venture entity Egyptian Indian Polyester Company SAE has paid $87 million to Commercial International Bank (Egypt) SAE, Ahli United Bank Egypt SAE, Ahli United Bank BSC and International Finance Corporation towards full and final settlement of the outstanding dues.

To enable EIPET to pay the settlement amount, the company has raised funds in India through internal accruals and short-term bridge financing, it said in a statement to the exchanges. Shares of Dhunseri Petrochem jumped 4.3 per cent at ₹129.80 on the NSE.

comment COMMENT NOW