India's top gas importer Petronet seeks Rs 12,000 crore loan
Petronet LNG
, is looking to raise a 120 billion rupee (about $1.4 billion) 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 billion rupees.
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Petronet
aims to spend 300 billion rupees in the next few years, and most of that on building a petrochemical project, Mitra said.
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Its capital expenditure for 2026-27 would be higher than the 50 billion rupees estimated for the current fiscal year to March 2026, he said.
Last week, the company's board approved setting up a 5 million tons per year LNG import terminal in the eastern state of Odisha at the cost of 63.5 billion rupees.
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