Bhubaneswar: The State Cabinet has approved the exemption of electricity duty on power consumption in favour of Indian Oil Corporation Limited (IOCL), Paradip Refinery unit based on Memorandum of Understanding (MoU) between the State Government and IOCL.
Indian Oil Corporation, a Central Government Public Sector Unit had entered into an MoU for setting up of 9 MTPA crude oil refinery at Paradip of Jagatsinghpur district. As per the provision made in the memorandum the electricity duty for 5 years is to be exempted by State Government to encourage the unit.
This will facilitate the investment made by Central Government Public Sector Unit as per the commitment made in MoU and encourage other Central Government PSUs to invest in the State.
