Corporate News 13-Jan-15
Alok Industries receives first initial advance of USD 250 million
Out of the EPBG facility of up to USD 1633.33 million sanctioned by State Bank of India
Alok Industries announced that out of the facility of an Export Performance Bank Guarantee (EPBG) of up to USD 1633.33 million equivalent to about Rs. 9800 crore sanctioned by State Bank of India, an Initial Advance amounting to USD 250 million has been received on 13 January 2015 by the Company's Authorized Dealer on the Company's behalf. The Company is confident of receiving the balance advance amount of up to USD 1383.33 million in regular tranches in the near future.
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