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Informist, Wednesday, Apr. 8, 2026

--Cabinet OKs INR 794.59 bln for HPCL Rajasthan refinery 

NEW DELHI – The Union Cabinet on Wednesday approved the increase in project cost of HPCL Rajasthan Refinery Ltd. to INR 794.59 billion from the original INR 431.29 billion. It also approved an increase in Hindustan Petroleum Corp. Ltd.'s equity contribution in the project by INR 89.62 billion to INR 196 billion.

HPCL Rajasthan Refinery is a joint venture between HPCL and the Rajasthan government, with equity participation of 74% and 26%, respectively. The construction of the refinery is complete, and its commercial operation will begin in July, Information and Broadcasting Minister Ashwini Vaishnaw said in a media briefing.

HPCL Rajasthan Refinery, with a capacity of 9 million tonnes per annum, is a greenfield refinery-cum-petrochemical complex with 2.4 million tonnes per annum of petrochemical production capacity. Rajasthan Refinery Project plans to process 7.5 million tonnes per annum of imported crude as well as 1.5 million tonnes per annum of Rajasthan crude, according to the joint venture's website.

The enhanced allocation for the strategically important project will help increase the country's energy security, reduce import dependence in petrochemicals, and support domestic manufacturing sectors, according to the government. It will also promote industrial development in the region, utilisation of local crude Mangala, and position India as a refining hub.

HPCL reported a net profit of INR 40.72 billion for the December quarter, up around 35% on year. Its revenue, including excise duty of INR 94.29 billion, for the quarter was INR 1.24 trillion, up 5% on year. Shares of the company Wednesday closed at INR 364.25 on the National Stock Exchange, up almost 10% from the previous session.   End

Reported by Priyasmita Dutta

Edited by Ashish Shirke

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