DCM Shriram Ltd on Thursday announced that it has successfully raised a Sustainability Linked Loan (SLL) of Rs 200 crore from HSBC India. It said that the move is aimed at supporting the company’s ongoing capital expenditure program in Bharuch, Gujarat.
Amit Agarwal, Executive Director & Group CFO, DCM Shriram Ltd, said, “This is our first Sustainability Linked Loan obtained from HSBC India, marking our unwavering dedication to our Environmental, Social, and Governance (ESG) objectives. We have embarked on projects worth approximately Rs 3500 crore, predominantly within our Sugar & Chemical divisions.”
“Notably, projects in our Sugar business have already been commissioned, while those in the Chemicals business are nearing completion. Sustainability remains at the core of our operations, encompassing vital aspects such as water conservation, energy efficiency, renewable energy, and promoting a circular economy. Please refer to our sustainability report available on our website for detailed insights into our sustainability efforts,” he added.
Commenting on the development, Ajay Sharma, Head-Commercial Banking, HSBC India, said, “We’re pleased to support DCM Shriram Ltd in more closely linking their financing with their sustainability strategy, and look forward to working with clients across sectors, to further embed ESG considerations into the financing ecosystem.”
DCM Shriram is a diversified business conglomerate with interests in agri-rural, chlor-vinyl, and value-added business.
