REC to provide Rs 4,785 crore loan for refinery project in Rajasthan
State-owned REC Ltd on Tuesday said it will provide a loan of Rs 4,785 crore to HRRL’s project in Rajasthan. HRRL is a joint venture between Hindustan Petroleum Corporation Ltd (HPCL) and Rajasthan government. HPCL holds 74 per cent equity stake in HRRL.
“REC extends Rs 4,785 crore for HPCL Rajasthan Refinery’s project in Barmer. HRRL has executed a loan agreement under consortium arrangement for Rs 48,625 crore wherein the share of state-run REC Ltd is Rs 4,785 crore,” REC said in a statement.
