Gail (India) and State Bank of India (SBI) have signed a Rupee Term Loan Agreement of Rs 2,000 crore having a door to door tenure of 15 years. The purpose of the loan is for general capital expenditure of GAIL, mainly in the gas pipeline projects, in the forthcoming years. The Loan Agreement is an important milestone in the mutually beneficial relationship that the two organizations share in their path of growth.
GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.
