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DBS Bank extends ₹ 175 cr transitional loan facility to Shree Renuka Sugars

DBS Bank has expanded a transitional loan facility to Shree Renuka Sugars to replace fossil fuel consumption by scaling bioethanol production.

“Shree Renuka Sugars Ltd (SRSL), a subsidiary of Wilmar International Ltd, Singapore and one of the largest producers of sugar and green energy (ethanol and renewable energy) in India, has achieved a five-year transitional financing facility of DBS 175 million, “said the bank in a statement.

The proceeds will be used to fund the expansion of SRSL’s sustainable bioethanol business in India, it said, adding that this is believed to be the first transitional loan a foreign bank provides to India’s biofuel manufacturing industry.

The transition loan to SRSL is in line with DBS ‘broader efforts to provide sustainable financing to companies that support their transformations towards a future with lower CO2 emissions.

Published on

May 11, 2022

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