India: Petronet LNG Plans to Raise USD 367 Mln for LNG Terminal Expansion

Petronet LNG Ltd. plans to raise USD 367 million (INR 20 million) by March to increase the capacity of its Dahej LNG import terminal in the western state of Gujarat, according to Fox Business.

Finance Director R.K. Garg told: “We are raising the (annual) capacity at Dahej terminal to 15 million tons from 10 million tons by end-2015.”

Expansion cost is INR 30 billion and internal accruals will fund the rest.

Managing Director Ashok Kumar Balyan said the company’s 5.0-million-ton Kochi terminal in south India will be commissioned by the end of this fiscal year through March.

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LNG World News Staff, July 04, 2012