India's top gas importer Petronet seeks 120 billion rupee loan

Petronet LNG

28/07/2025 07:45

NEW DELHI, July 28 (Reuters) - India's top gas importer, Petronet LNG PLNG.NS, 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.

Petronet aims to spend 300 billion rupees in the next few years, and most of that on building a petrochemical project, Mitra said.

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.

($1 = 86.5050 Indian rupees)

 (Reporting by Nidhi Verma; Editing by Mrigank Dhaniwala)

 ((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.net))