Swan Energy plans to prepay ₹300 crore debt raised for its groundbreaking Floating Storage and Regasification Unit (FSRU) project. The FSRU, commissioned in February 2023, represents India’s first new build FSRU initiative for the LNG sector. To ensure the seamless execution of debt prepayment, Swan Energy has established a debt service retention account of about ₹94 crore.
The successful debt prepayment will propel the company to greater financial resilience and ensure the FSRU Project’s continued success.
Swan Group currently has a presence in the textile, real estate, oil and gas and petrochemical sectors. Additionally, it forayed into shipbuilding, ship repairing, and heavy fabrication industry with the recent acquisition of Reliance Naval and Engineering.