As part of plans to part finance its growth plans in the region, BOC India is set to launch an external commercial borrowing (ECB) programme after receiving the shareholders approval at the 71st annual general meeting of the company last month.
The company is putting the final touches to the ECB programme and it is thought that the cheaper ECB funds will be used to refinance some of the existing debts on BOC’s book, though no specific details have been released as yet.
E. R. Raj Narayanan, BOC India managing director, simply said, $quot;We will able to give out the details in a few weeks.$quot;
Following the acquisition of the company’s parent firm BOC Gases by Germany’s The Linde Group, India has been identified as a growth driver in the coming years and investment will be stepped up in the region.
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