Russia's Rosneft, partners to invest around $12.9 billion in India's Essar Oil: CEO

GOA, India (Reuters) - A group led by Russian oil major Rosneft will invest around $12.9 billion (10.37 billion pounds)in India's Essar Oil , Chief Executive Igor Sechin told reporters on Saturday. Sechin said a refinery and port owned by the Indian firm were worth around $10 billion and $2.9 billion respectively. India and Russia signed a deal on Saturday to pave the way for a group led by Rosneft to acquire Essar. Officials from Russian lender VTB , which is giving Essar $3.9 billion in credit for debt reconstruction, said Rosneft would pay around $3.5 billion for its stake in Essar, the same amount as European trader Trafigura and Russian fund UCP. (Reporting by Denis Pinchuk; Writing by Jack Stubbs; Editing by Andrew Heavens)