IRFC signs Rs 12,842 crore refinancing deal with HURL
In one of its largest-ever refinancing initiatives, the Indian Railway Finance Corporation Limited (IRFC) has signed a Rupee Term Loan agreement with Hindustan Urvarak and Rasayan Limited (HURL) for a staggering Rs 12,842 crore.
The deal, aimed at refinancing HURL’s existing long-term debt, was formalised in the national Capital between Sunil Kumar Goel, Executive Director (Finance), IRFC, and Poonam Jeswani, CFO, HURL. The signing took place in the presence of the Chairman and Managing Director of IRFC, Manoj Kumar Dubey, and the Chairman of HURL.
Speaking on the occasion, Manoj Kumar Dubey stated that the Navratna CPSE is actively expanding its footprint to support infrastructure sectors with strong railway linkages.
“This transaction reflects our ‘whole-of-Government’ approach, bringing cost-effective, long-term financing to strategically important sectors like fertilisers. By enabling financial efficiency, we are contributing to agricultural sustainability while strengthening logistics with railways at the core,” he said.
The move is part of the ‘IRFC 2.0’ strategic vision, which seeks to diversify the corporation’s role as a financier beyond core rail projects to include power, mining, and multimodal logistics. HURL, a joint venture of PSUs including NTPC, Coal India, and Indian Oil, operates revived fertiliser plants in Gorakhpur, Sindri, and Barauni — all of which rely heavily on the Indian Railways for freight movement.
The refinancing is expected to provide HURL with competitive terms and an optimised repayment structure, enhancing its debt-servicing efficiency and freeing up resources for future growth.
Established in 1986, IRFC continues to maintain a zero-NPA portfolio while mobilising resources at competitive rates to bolster India’s infrastructure. This latest partnership reinforces its position as a critical financial partner in the Government’s nation-building initiatives.
