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| Exchange Disseminated Time 03/08/2016 16:44:51 | With reference to the earlier announcement dated March 15, 2016, indicating the likelihood of an agreement with KRN to facilitate debt financing by procuring Standby Letter of Credit (SBLC) from Indian banks and backstop the untied equity/ mezzanine financing subject to the required Indian regulatory approvals. The same was intimated pending the due negotiations, discussions and approvals expected to be completed by September 2016.
Gujarat State Fertilizers & Chemicals Ltd has now informed BSE that the negotiation for arranging financing for Wynyard Potash Project between GSFC & M/s Karnalyte Resources Inc. has ceased as agreement could not be reached on major terms. |
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