HPCL Rajasthan Refinery Project Cost Revised to ₹79,459 Crore; Equity Commitment Raised to ₹19,600 Crore
Mumbai, April 2026: Hindustan Petroleum Corporation Limited (HPCL) has informed stock exchanges that the Ministry of Petroleum & Natural Gas has approved a significant revision in the cost structure of the HPCL Rajasthan Refinery Limited (HRRL) project, marking a major development in one of India’s largest integrated refinery-petrochemical ventures.
According to the official communication filed with BSE Limited and National Stock Exchange of India Limited, the total project cost of HRRL has been revised upward from ₹43,129 crore to ₹79,459 crore. In line with this revision, HPCL’s equity investment has been increased to ₹19,600 crore, ensuring the company retains its 74% equity stake in the project.
Strategic Greenfield Refinery Project
The HRRL project is a greenfield integrated refinery and petrochemical complex featuring a high Nelson Complexity Index of 17 and a petrochemical intensity of 26%, positioning it among the most advanced refining assets under development in India.
Advanced Stage of Commissioning
HPCL confirmed that the project is currently in an advanced stage of commissioning. Trial runs of the crude distillation unit (CDU) and several other processing units are already underway, indicating significant progress toward full operational readiness.
Importance for India’s Energy Sector
Once fully operational, the Rajasthan Refinery is expected to play a key role in strengthening India’s refining capacity, reducing import dependency for petrochemical products, and supporting downstream industrial growth.
The revision in project cost reflects updated financial planning and execution requirements for large-scale infrastructure projects of this nature.
About HRRL
HPCL Rajasthan Refinery Limited (HRRL) is a joint venture refinery project aimed at creating a high-efficiency integrated refining and petrochemical hub in Rajasthan, designed to meet growing domestic and export demand.
Stock Market Disclosure
The update was formally communicated to the exchanges as part of regulatory compliance under SEBI listing obligations, ensuring transparency for investors and stakeholders.