IOC and the Odisha government have agreed on modalities to resolve the tax dispute following intervention from petroleum minister Dharmendra Pradhan. As part of the understanding reached between the two sides, the Odisha government has agreed to restore part of the tax incentives.
With formal resolution of tax dispute relating to its Paradip refinery now being just a matter of time , the oil PSU plans to invest additional Rs 52,000 crore in expanding capacity of the project and setting up petrochemical complex.
The tax dispute between the Odisha government and Indian Oil Corporation might finally see an early resolution, thanks to intervention from petroleum minister Dharmendra Pradhan that has succeeded in breaking the deadlock in this matter.
Paradip would be developed into a smart port and smart city at an investment of Rs 40,000 crore as part of the Centre’s plan to bring about a speedy development of Odisha, Union minister Nitin Gadkari announced today.
Due to heavy rains and flash floods in Rayagada district of Odisha, the railway bridge between Singapuram Road and Therubali railway stations in Titilagarh-Rayagada railway section was washed away on Sunday.
JSW Steel Limited said the company’s board has approved a plan to build a pipeline from its Vijayanagar plant in Karnataka to the coast to facilitate the import of cheaper iron ore from Odisha and Eastern India.
Vedanta, the London-headquartered metals and mining major, is looking at the possibility of expanding its alumina refinery production at Lanjigarh in Kalahandi district of Odisha beyond the present cap of four million tonnes per annum (mtpa).