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RIL Sells $2b Dead Gas Pipeline
March15, 2019 (C) Ravinder Singhprogressindia2015@gmail.com
ET Reported on front pages – While Ambani is allowed to sell RIL ASSETS OF MOST INDEBTED Company in India – Telecom Towers of R.Jio for $8b and Practically DEADKakinada-Bharuch 1400 Km Gas Pipeline for $2b.
The Rs.13,000-crore valuation will include both equity and debt. Axis Bank and ICICI Bank are providing the financing. The other investors together are likely to put in Rs.1,000-1,200 crore.
Brookfield Asset Management of Canada shall form a Trust to manage the assets.
Banks to inject $10b in $33b Debt of RIL without creating PRODUCTIVE ASSETS.
RIL has as per FortuneIn500 has Rs.2,39,843 Cr Debt which is rising every year.
$10b Acquisitions Shall Be FUNDED by already weak INDIAN BANKS with Buy Back Options for Pipelines after 20 years and pay Rent for using Telecom Towers.
Ø ET reported on FY18 Revenue of Rs.884 Cr Net Loss was Rs.715 Cr.
So on a RIL Debt of Rs.2,39,843 Cr – Banks Shall Finance Upto Rs.70,000 Cr Without any investment in ‘NEW ASSETS.’
Ruias of ESSAR and other Companies are Told to CLEAR All Dues before considering Bank RE-Finance.
ESSAR is asked to Clear all Group Debt of Rs.1,40,000 Cr.
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