RIL to seek $1 bn loan to fund expansion

RIL has lined up a $12 billion expansion of its petrochemical business, the largest since completing its second oil refinery in 2008. The company had earlier this month raised $2 billion as loan from German banks.

Reliance Industries is seeking a loan of about $1 billion to fund its petrochemicals and telecom expansion.

RIL is investing over $12 billion over next 4-5 years in the refining and petrochemical industries.