REC extends Rs 47.85 billion loan to HRRL for green field refinery project

REC Limited has provided HPCL Rajasthan Refinery Limited (HRRL) with a loan of Rs 47.85 billion to facilitate the development of a greenfield refinery and petrochemical complex in the Barmer district of Rajasthan. The loan has been extended as part of a consortium arrangement for Rs 486.25 billion, of which REC Limited’s share is Rs 47.85 billion. The refinery will have a capacity of 9 million metric tonnes per annum (MMTA), and would entail a total project cost of Rs 729.37 billion.