Indian Oil Corp Ltd (IOC), the country's largest state-owned refiner said it
has signed a rupee term loan agreement of Rs149 billion with 21 lenders led by
State Bank of India (SBI). The loan facility would be used to fund part of its
ambitious Rs335 billion, 15 million metric tonne per annum (MMTPA) grass roots
refinery project at Paradip in Orissa.
