India approves Rs 1.74 lakh crore projects including HPCL Rajasthan refinery and Jaipur Metro
Change
India approved projects worth Rs 1.74 lakh crore and authorised a nutrient-based fertiliser subsidy of Rs 41,534 crore for Kharif 2026, applicable from 1 April 2026 to 30 September 2026.
Why it matters
Retail Di‑Ammonium Phosphate (DAP) will be maintained at Rs 1,350 per 50 kg bag during the subsidy window, constraining pricing and inventory decisions for distributors and authorised dealers. The HPCL Rajasthan refinery expansion carries a commercial operations target in July 2026, creating a fixed commissioning deadline for contractors and equipment suppliers.
Implications
- • Hindustan Petroleum Corporation Limited (HPCL) finance and project teams must allocate Rs 19,600 crore of equity to the HPCL Rajasthan Refinery Ltd project to match the revised Rs 79,459 crore cost estimate and enable project financing to close.
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