Petronet LNG plans to develop petrochemical complex in Gujarat
Government-owned Petronet LNG has plans to develop a new petrochemical complex in Dahej, Gujarat. Further, the firm plans to develop an LNG terminal at Gopalpur, Odisha. To fund these projects, Petronet is seeking a loan of at least Rs 1.2 lakh crore.
The firm is looking to raise funds from local lenders, including Axis Bank, State Bank of India, and Union Bank of India, considering participation. This loan would likely carry a tenor of over 10 years and may be lower than SBI’s current one-month marginal cost of funds-based lending rate.
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