July 16, 2025 03:11 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Shubhanshu Shukla returns to Earth after his 18-day mission to space | India's Got Latent host Samay Raina, other influencers appear in SC over remarks mocking disabled | Drunk teenager who rammed Porsche into two-wheeler leaving two dead won't be tried as an adult | Jaishankar calls on China's President Xi Jinping in Beijing | Jaishankar calls on China's President Xi Jinping in Beijing | Supreme Court slams cartoonist Hemant Malviya for 'inflammatory' cartoon of PM Modi, RSS | Donald Trump threatens Russia with 'very severe tariffs' if no Ukraine negotiations within 50 days | 'We tried everything but there is a limit to what we can do': Govt on Nimisha Priya's execution in Yemen | 'India-China open exchange of views and perspectives is very important': Jaishankar in Beijing | Delhi University student, missing for six days, found dead in Yamuna River
Image Credit: PIB

REC Ltd's Rs 4,785 cr loan to HPCL Rajasthan Refinery for greenfield project in Barmer

| @indiablooms | Jul 05, 2023, at 05:32 am

New Delhi: REC Ltd, formerly known as Rural Electrification Corporation, has extended a loan of Rs 4,785 crores to HPCL Rajasthan Refinery Limited (HRRL), for setting up a green field refinery cum petrochemical complex in Barmer district, Rajasthan.

The state-run company is primarily engaged in providing finance for rural electrification projects across India and provides loans to Central/ State Sector Power Utilities, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers.

The loan has been extended as part of a consortium arrangement for Rs 48,625 crores, wherein the share of REC Limited is Rs 4,785 crores.

The refinery cum complex will have a capacity of 9 Million Metric Tonnes per Annum (MMTA), and would entail a total project cost of Rs 72,937 crores.

HRRL is a Joint Venture company of Hindustan Petroleum Corporation Limited (HPCL) and the Government of Rajasthan, incorporated on 18th September 2013. HPCL holds 74% equity stake in HRRL while the remaining 26% is held by the Government of Rajasthan.

Besides setting up an energy-efficient and environment-friendly refinery cum petrochemical complex with a capacity of 9 MMTPA, 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 (MS or Petrol) & BS-VI grade High-Speed Diesel (HSD or Diesel) and Petrochemical products such as Polypropylene, Butadiene, LLDPE, HDPE, Benzene and Toluene.

It will help serve the increased demand of petroleum and petrochemical products in the country and the Western, Northern and Central parts of India in particular.

REC Limited, a Maharatna CPSU under the Ministry of Power, is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years of operations.

It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.

Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu