REC extends Rs 47.85 billion for HPCL Rajasthan Refinery’s project in Barmer

REC Limited has extended a loan of Rs 47.85 billion to  HPCL Rajasthan Refinery Limited (HRRL) for setting up a green field refinery cum petrochemical complex in Barmer district, Rajasthan.

The loan has been extended as part of a consortium arrangement for Rs 486.25 billion, wherein the share of REC is Rs 47.85 billion. The refinery cum complex will have a capacity of 9 million tonnes per annum, and would entail a total project cost of Rs 729.37 billion. Besides setting up refinery cum petrochemical complex, the project involves setting up a pipeline for transportation of both Rajasthan crude and imported crude; a pipeline for transportation of water to the refinery site; a captive power plant for meeting refinery power and steam requirement; crude and product storage facilities; and township and allied facilities and utilities. The project aims to produce clean fuels such as BS-VI grade motor sprit and high-speed diesel, and petrochemical products.