REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, will provide a loan amounting to Rs 47.85 billion to HPCL Rajasthan Refinery Limited (HRRL) in Barmer district, Rajasthan.
HRRL is a Joint Venture company of Hindustan Petroleum Corporation Limited (HPCL) and the Government of Rajasthan with a respective equity stake of 74 per cent and 26 per cent.
The project includes setting up of an energy efficient and environment friendly refinery cum petrochemical complex with a capacity of 9 Million Metric Tonnes per Annum (MMTA) which includes 2.4 MMTA of Petrochemical products.
Additionally, it also includes crude and product storage facilities, a captive Power Plant for meeting refinery's power and steam requirement and township and allied facilities and utilities.
The biggest project being undertaken in the oil sector in India, the Barmer Refinery will produce clean fuels such as BS-VI grade Motor Sprit (MS or Petrol) & BS-VI grade High-Speed Diesel (HSD or Diesel).
Further, the refinery will produce about 26 per cent of petrochemical products from the very beginning. It will have worlds’ largest Polypropylene Unit & Polyethylene swing unit to make more than 30 different polymer grades.
The Project 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.
