Hindustan Petroleum Corp Ltd's (HPCL) Rs 43,129-crore refinery project in Barmer district of Rajasthan has achieved financial closure with tying up of a Rs 28,753-crore loan from a consortium of lenders, the company said Monday.
HPCL, a subsidiary of state-owned Oil and Natural Gas Corp (ONGC), signed a debt syndication agreement with the consortium of nine lenders led by State Bank of India, a company statement said.
"SBI is the lead lender with more than 50 per cent share in the consortium," it said. "This is one of the largest project debt syndications in India."
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