Feb 27 2017 | India Opportunities

IOCL likely to reconsider investment in Odisha in view of tax sops withdrawal

Indian Oil Corporation Ltd had plans to expand the 15 MTPA Paradip refinery by 5 MT. The corporation also plans to set up a Polypropylene Plant and a monoethylene glycol production facility at the site of the one-year old refinery. The investment of Rs 52000 crore is at stake. The Oil PSU has threatened to reconsider these plans in case the state government withdraws tax sops.

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