Vritti Law Partners advises consortium of lenders led by SBI on ₹10,287 crore sanction for Numaligarh Refinery expansion

Vritti Law Partners advised State Bank of India and a consortium of lenders on the sanctioning of financing to Numaligarh Refinery Limited. The lenders, led by State Bank of India, approved aggregate financial assistance of ₹10,287 crore (approximately $1.24 billion) to Numaligarh Refinery Limited. The consortium comprised Bank of India, Bank of Maharashtra, Punjab National Bank, Central Bank of India, Union Bank of India, HDFC Bank Limited, Axis Bank Limited, ICICI Bank Limited, Indian Overseas Bank, UCO Bank and EXIM Bank. The financing is intended to support (i) the expansion of Numaligarh Refinery’s capacity from 3 MMTPA to 9 MMTPA; (ii) the development of an approximately 1,635 km crude oil pipeline from Paradip together with associated crude oil import terminal facilities at Paradip Port; and (iii) the establishment of a 360 KTPA polypropylene unit at Numaligarh in Golaghat district, Assam. Numaligarh Refinery Limited was established under the provisions of the Assam Accord and is a Navratna, Category‑I Miniratna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas. The project forms a key element of the Government of India’s Hydrocarbon Vision 2030 for the North‑East, aimed at strengthening national energy security and promoting inclusive regional economic growth. Vritti Law Partners represented State Bank of India and the consortium with a team composed by: Debashree Dutta (Partner); Aishwarya Pandey (Senior Associate); Kanika Jain (Associate); Priyanka Chandgude (Associate).

Vritti Law Partners advises consortium of lenders led by SBI on ₹10,287 crore sanction for Numaligarh Refinery expansion

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