IOC later showed interest when the state government announced certain concession in tax. The capacity of the project was also raised to 15 million tonnes and a decision was taken to set up a petrochemical complex along with the refinery.
Minister for Industries, Raghunath Mohanty said that the state government has already provided the required 3,344.65 acres of land for the project. IOC has so far spent INR22 billion on this INR29.77 billion project.
Mohanty said that the state government has also provided several rebates to the company to carry on with the project. Those rebates included works contract tax, sales tax, central sales tax, entry tax on crude oil and project construction materials and royalty on sand and electricity duty. He assured that the government was taking every step for payment of dues to people those who have lost their land for the project.
