PFC extends ₹ 9,187 cr assistance to HPCL Rajasthan Refinery project
₹9,187 crore to HPCL Rajasthan Refinery Ltd for its refinery-cum-petrochemical complex at Barmer. This is the first project where PFC has extended its financial assistance to the refinery and petrochemical sector. “Power Finance Corporation Ltd.
(PFC), a Maharatna Company and India’s leading NBFC in the power sector has extended its financial assistance for ₹ 9,187 cr to HPCL Rajasthan Refinery Ltd for its 9 MMTPA refinery-cum-petrochemical complex located at Barmer, Rajasthan," it added. HPCL Rajasthan Refinery Limited (HRRL) is setting up a green field refinery-cum-petrochemical complex in Barmer district, Rajasthan, at a project cost of ₹ 72,937 crore. On 4 July 2023, HRRL executed a loan agreement under a consortium arrangement for ₹ 48,625 crore, wherein the share of PFC Ltd was ₹ 9,187 crore.
HRRL is a joint venture (JV) company of Hindustan Petroleum Corporation. HPCL holds 76% in the JV, while the Rajasthan government has a 26% stake. The project includes setting up an energy-efficient and environment-friendly refinery-cum petrochemical complex, setting up a pipeline for transportation of both Rajasthan Crude and imported crude, the 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, township and allied facilities and utilities.
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