Petronet LNG Locks In ₹12,000 Crore Funding

Petronet LNG has secured a ₹12,000-crore loan from a consortium comprising the State Bank of India and Bank of Baroda to support its upcoming petrochemicals project. Arranged through a competitive bidding process advised by SBI Capital Markets, the loan is evenly split, with ₹6,000 crore contributed by each bank. Beyond the petrochemical initiative, the funding will also cater to Petronet’s broader capital expenditure plans.

Petronet—India’s largest LNG importer—is a joint venture of GAIL, ONGC, Indian Oil, and Bharat Petroleum, each holding a 12.5% stake. The company operates LNG regasification terminals in Dahej, Gujarat, and Kochi, Kerala, with a combined annual capacity of 22.5 million tonnes. In its statement, Petronet noted that this financing arrangement enhances its financial flexibility to advance strategic growth initiatives.

News by Rahul Yelligetti.