Swan Energy Limited (SEL) has taken another step towards reducing its debt burden by repaying Rs 40 crore towards the textile unit’s fund-based facilities to the consortium of banks led by Union Bank of India. The consortium, consisting of Union Bank of India, Bank
of Baroda, Punjab National Bank, and Mehsana Urban Co-operative Bank Ltd, played a vital role in this debt repayment. This move reflects Swan Energy’s endeavour to strengthen its financial position by managing its financial obligations effectively.
Swan Energy Limited, a diversified conglomerate operating in textile, real estate, oil and gas, and petrochemical sectors, recently entered the shipbuilding, ship repairing, and heavy fabrication industry by acquiring Reliance Naval and Engineering Limited. This strategic expansion adds to the company's existing portfolio.
Swan Energy Limited has also made a significant prepayment of Rs. 300 crore for its Floating Storage and Regasification Unit (FSRU) Project. The payment was made through its subsidiary Triumph Offshore Private Limited (TOPL) using internal accruals. The prepayment demonstrates the company’s commitment to meeting its financial obligations and further strengthening its financial position.
With these debt repayments and strategic acquisitions, Swan Energy Limited is poised for sustained growth across diverse sectors and aims to enhance its market presence in the coming years.
