India's top gas importer Petronet seeks loan to expand petchem plant
India's top gas importer, Petronet LNG, is looking to raise a 120-B rupee (about $1.4 B) local currency loan to fund the expansion of a plant, its head of finance, Saurav Mitra, said in an analyst call on Monday.
The company is building a petrochemical plant in India's western state of Gujarat at the cost of 206.85 B rupees.
Petronet aims to spend 300 B rupees in the next few years, and most of that on building a petrochemical project, Mitra said.
Its capital expenditure for 2026–2027 would be higher than the 50 B rupees estimated for the current fiscal year to March 2026, he said.
Last week, the company's board approved setting up a 5-MMtpy LNG import terminal in the eastern state of Odisha at the cost of 63.5 B rupees.
($1 = 86.5050 Indian rupees)
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