State-run Petronet LNG (PLL) said on Wednesday that it has executed a secured rupee term loan (RTL) facility amounting to ₹12,000 crore with a consortium of banks.

The consortium consists of State Bank of India (Leader of consortium) and Bank of Baroda, with a sanctioned limit of ₹6,000 crore each from both the banks. The RTL facility is intended to be utilised primarily for financing the Petrochemicals Project and other capital expenditure needs of the company, said India’s largest importer of liquefied natural gas (LNG).

PLL is setting up a 750,000 tonnes per annum PDH (Propane Dehydrogenation) and 500,000 tonnes per year PP (Polypropylene) unit including ethane and propane handling facilities at Dahej, Gujarat.

Competitive bidding process

The RTL facility was finalised through a com

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