Place rice in an ovenproof Dutch oven; cover with lid.
Bake at 325° for 20 to 25 minutes or until rice is golden brown. Add butter, and stir until melted. Carefully stir in broth and 3/4 cup boiling water; cover. Bake 30 more minutes or until water is absorbed and rice is tender.
Stir in onions, basil, and pine nuts; serve immediately.