RIL approaches banks for five-year loan

22-May-12
Reliance Industries Ltd is believed to have approached banks for the five-year loan for its US$12 bln petrochemical expansion. However, a company spokesperson did not immediately offer any comment. Earlier in the month, RIL raised US$2 bln as loan from German banks. RILs expansion plans include a US$4 bln petroleum coke gasification project to produce synthetic natural gas that will replace expensive LNG as fuel, and US$8 bln on adding capacities of PFY, PET, polyester and intermediate chemicals such as PTA and paraxylene, besides adding new products such as carbon black and rubber
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