Dalmia Bharat Sugar subsidiary secures $87.5M loan for Tanzania project

Dalmia Bharat Sugar and Industries Limited (DBSIL) announced that its wholly-owned subsidiary, Eagle Agrotech Tanzania Limited (EATL), has executed a Facility Agreement with CRDB Bank Public Limited Company for a Term Loan of $87.5 Million. This loan is part of the previously approved project to set up a 3500 TCD sugar manufacturing unit with a 20 MW co-generation facility in Tanzania. DBSIL will sponsor a Standby Letter of Credit (SBLC) as collateral security, covering 51% of the principal amount, with the quantum adjusting annually. The agreement does not impact DBSIL's management or control, and the SBLC provision is considered an arm's length related party transaction.