India Approves HPCL Rajasthan Refinery Project Cost Revision
Analysis based on 8 articles · First reported Apr 08, 2026 · Last updated Apr 08, 2026
The approval of the revised project cost for the Hindustan Petroleum Corporation===HPCL Rajasthan Refinery Limited (HRRL) is expected to have a positive impact on the Indian energy and petrochemical markets. It signals increased domestic production, reduced import dependence, and potential for foreign exchange savings, benefiting entities like Hindustan Petroleum Corporation Limited.
The India===Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved a significant revision in the project cost of the Hindustan Petroleum Corporation===HPCL Rajasthan Refinery Limited (HRRL) project. The cost has been increased from ₹43,129 crore to ₹79,459 crore. Additionally, Hindustan Petroleum Corporation Limited (HPCL) will invest an extra ₹8,962 crore in equity, bringing its total equity contribution to ₹19,600 crore. The HRRL project, a joint venture between Hindustan Petroleum Corporation Limited (74% stake) and the India===Government of Rajasthan (26% stake), is a 9 MMTPA greenfield refinery-cum-petrochemical complex. It aims to strengthen India's energy and industrial ecosystem, reduce import dependence in the petrochemical sector, and utilize locally available Mangala crude oil. The project is scheduled for commercial operations on July 1, 2026, and is expected to generate significant employment and industrial development in Rajasthan.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard