Odisha Govt to set up committee to lay down a roadmap for petrochemical complex, review of fiscal incentives

16-Oct-15

The Odisha government will set up a committee to lay down a roadmap for a downstream petrochemical complex and review of fiscal incentives for the 15 mln tons oil refinery project at Paradip. This was decided at a meeting chaired by chief secretary G.C. Pati on Tuesday with Indian Oil Corporation Ltd. (IOCL) chairman B. Ashok and other state government officials. The meeting decided to constitute a working group of senior officials of the state government and IOCL to lay down a roadmap for the petrochemical complex and the role of IOCL as an anchor tenant for petroleum, chemicals and petrochemicals investment region, said an official release. The committee would also review the fiscal incentives under a fresh memorandum of understanding (MoU) to be signed for Paradip refinery project, said the release. The refinery is expected to be commissioned by December.