Buoyed By Resolution of Tax Dispute, IOC Plans Additional Investment of Rs 52K crore In Paradip Refinery

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.

Buoyed By Resolution of Tax Dispute, IOC Plans Additional Investment of Rs 52K crore In Paradip Refinery

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.