Petronet Eyes Rs 120 Billion Loan for Expansion

25 Jul 2025 CW Team

India’s largest natural gas importer, Petronet LNG Ltd., is seeking a loan of at least Rs 120 billion (USD 1.4 billion) to help fund the construction of a new petrochemical plant and an LNG terminal, according to people familiar with the development.

Major domestic lenders including Axis Bank, State Bank of India (SBI), and Union Bank of India are reportedly considering participating in the facility, which would mark one of Petronet’s largest fundraising exercises to date. The company has appointed SBI Capital Markets as the adviser for the transaction and is inviting bids from banks either individually or in syndicates, the sources said, requesting anonymity due to the private nature of the talks.

The loan is being sought at a time when India’s loan market is relatively subdued, with overall bank lending growing 9.5 per cent as of 27 June—its slowest pace since March 2022, according to Reserve Bank of India data. Should the deal proceed, it could become one of the largest local currency loan agreements in India this year, based on Bloomberg-compiled figures.

Proceeds from the facility will partially fund the development of a major petrochemical complex in Dahej, located on the southwest coast of Gujarat, which aims to help diversify Petronet’s earnings beyond the liquefied natural gas sector. The project is estimated to cost Rs 206.85 billion, according to the company’s website.

In addition, the New Delhi-headquartered firm is developing a separate five-million-tonne land-based LNG import terminal at Gopalpur on Odisha’s east coast.

The loan may have a tenor of more than 10 years, and its pricing is expected to be below SBI’s current one-month marginal cost of funds-based lending rate of 7.95 per cent, two sources added.

Spokespersons for Petronet, SBI, Axis Bank, Union Bank of India, and SBI Capital Markets have yet to respond to Bloomberg News’ requests for comment.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..