As the early phases of construction ramp up in Texas, NextDecade Corp. is plotting course for a final investment decision (FID) on an expansion of its Rio Grande LNG export facility later in the year.

Houston-based NextDecade disclosed it has secured a credit agreement with the Japanese financial giant MUFG Bank Ltd. for a $50 million revolving credit facility and a $12.5 million interest term loan.

With the additional financial backing, NextDecade said it will have “meaningful liquidity and capital resources” as it looks to finalize an engineering, procurement and construction contract for the fourth liquefied natural gas train by July.

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