A notification categorising over 1,000 acres of land (adjacent to RIL's existing 6.6 lakh bpd refinery) as multi-product SEZ has been issued. Location in the Jamnagar SEZ would give the new refinery full income tax exemption on export profits for first five years and 50% for the next five years. The SEZ will be exempt from service tax at construction stage, which will help reduce the project cost. No duty will be levied on project imports too.
Several downstream units including one being planned by Dow Chemicals of the US would be set up in the SEZ. These units would use products of the new refinery to make super speciality petrochemicals. As the new 5.8 lakh bpd export-oriented refinery comes up along with allied units, the SEZ would be expanded to 10,000 acres.
21-Apr-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}