Reliance Industries to Receive $400 Million from JPMorgan to Fund Expansion Plans

BANGALORE, INDIA--December 23, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Reliance Industries Limited (BSE:500325) (Mumbai), the flagship company of the Mukesh Ambani-led Reliance Group and India's largest private sector enterprise, has signed an agreement with JPMorgan Chase & Company (NYSE:JPM) (New York, New York) for a $400 million financing facility to fund the company's various expansion projects in India. JPMorgan, a leading global financial services firm, will act as the arranger, lender and facility agent for this deal. The Export-Import Bank (Exim), the official credit agency of U.S., will play the role of credit guarantor in this financing arrangement.

Other companies featured: Reliance Petroleum Limited (BSE:532743), J. Ray McDermott (NYSE:MDR)