Fertilizer firm NFL takes loan from SBI for energy efficiency projects

State-owned fertiliser firm NFL said Monday it has taken an Rs 1,044-crore loan from SBI to finance energy efficiency projects at its plants.

In a filing to the BSE, NFL said it has "singed rupee loan agreement with SBI for an amount of Rs 1,044 crore on December 24 and has achieved financial closure for its Energy Reduction Schemes at Panipat, Nangal and Bathinda projects and other capex at various units with total project cost of Rs 1,160 crore." The rupee term loan has been sanctioned by SBI in debt: equity ratio of 90:10.