India ADAG to get $3 bln loans from China banks-paper

NEW DELHI, Dec 15 (Reuters) - India’s Anil Dhirubhai Ambani Group (ADAG) will sew up about $3 billion in loans from Chinese banks as part of deals that will be signed during Chinese Premier Wen Jiabao’s India visit from Wednesday, the Mint newspaper reported.

The newspaper said part of the money would be used to fund equipment purchases from Chinese companies by the Indian group’s telecom and power units.

Reliance Communications RLCM.BO, India's second-biggest mobile phone operator and controlled by billionaire Anil Ambani, will sign an accord with China Development Bank for a $1.93 billion, 10-year loan, the paper said.

A Reliance Communications spokesman told Reuters an accord would be signed with China Development Bank for a loan, but declined to give details. (Writing by Devidutta Tripathy; Editing by Ranjit Gangadharan)