ADB offers Rs 16.9 cr loan to Petronet LNG

New Delhi, Aug 17: The Asian Development Bank today said it had signed an agreement to offer Rs 16.9 crore to Petronet LNG Ltd to help fund its expansion.

IFC on Monday had said it will help Petronet LNG Ltd build a liquefied natural gas (LNG) import and regasification terminal in southern India through a 150-million-dollar loan from its own account and an additional 150 million dollars from commercial lenders.

The increasing demand of LNG has led Petronet on deciding to double its import capacity at Dahej and build a new facility.

UNI