Hindustan Petroleum Corporation (HPCL) is reportedly planning to raise Rs 27000 crore in debt for its 9 million tonnes per annum (mtpa) Rajasthan refinery. HPCL and the Rajasthan government, which own 75% and 25%, respectively, in the joint venture-HPCL Rajasthan Refinery will bring in the balance equity component of the Rs 43129 crore project.
On April 18, the company and the state government had signed an agreement to build the refinery at Pachpadra in Barmer district. The refinery will be able to process local crude from Vedanta’s Barmer oil field, apart from imported crude oil.
HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.
