Thiru Arooran Sugars has got Rs 232 crore advance for export of sugar over the next eight years.

The company said in a regulatory filing that the advance has been primarily used for repayment of the credit facilities availed by the company from various banks.

It further said that the advance carries interest as per extent RBI Guidelines and is expected to reduce the financial costs of the company.

“The company has received USD 35.35 million (Rs 232 crore) as advance against export of sugar over the next eight years,”says the filing.

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