HPCL refinances about ₹50,000 crore of debt at its Rajasthan refinery, cutting borrowing costs by about 105 basis points

State Focus Rajasthan Infrastructure Economy & Banking Infrastructure & Transport

HPCL refinances about ₹50,000 crore of debt at its Rajasthan refinery, cutting borrowing costs by about 105 basis points

23 October 2026

Hindustan Petroleum Corporation (HPCL) has refinanced about ₹50,000 crore of debt at its Rajasthan refinery, cutting borrowing costs by around 105 basis points.
Chairman and Managing Director Vikas Kaushal said the company targets annual interest savings of about ₹1,000 crore through a broader restructuring.
The refinancing, effective October 3, is expected to save ₹470 crore to ₹550 crore a year.
The 9 million tonne a year refinery was built at a cost of ₹79,459 crore, with HPCL holding 74 per cent and the Government of Rajasthan 26 per cent.
The joint venture is HPCL Rajasthan Refinery Limited (HRRL); lenders include NaBFID and IIFCL, and its facilities are at Pachpadra in Balotra district.

Debt refinanced: ₹50,000 crore Capacity: 9 million tonne a year Equity: HPCL 74 per cent, Rajasthan 26 per cent

Why it matters for exams: The Pachpadra refinery, its joint-venture shares and infrastructure lenders such as NaBFID are asked in economy and State GK papers.

UPSCSSCBank

23 October 2026 Source: Business Standard

In plain words

NaBFID National Bank for Financing Infrastructure and Development — India's statutory development finance institution for infrastructure.

Basis point Basis point — One-hundredth of a percentage point.