Bhubaneswar,November 5 (Odisha.in)
The Physical construction work of the Rs.26,000 crore Integrated Petro-Chemical
Complex at Paradeep would begin in
a month’s time, said Sarthak Beuria, Chairman , Chairman of
Indian Oil Corporation ,who set the target of commissioning the project by 2011-12 .
However, Beuria had
committed the Chief Minsiter Naveen Patnaik to start the real Construction of
the mega 15 MTPA Integrated Petrochemical Complex by April. 2008 during a courtesy
call at State Secretariat Monday, official sources said.
The Oil Refinery
project was to be set up at Paradeep for which the then Prime Minister, Atal
Bihari Vajpai had laied the foundation stone in way back June 2000. However, the
Project profile was changed with the new UPA government’s
decision in 2004 to have an Integrated Petro-Chemical Complex of which the oil refinery is a part.
After apprising the
Chief Minister about the status of the project, Beuria told the media persons
that despite the fact that Orissa government had promised to give tax holiday
in form of Sales Tax, the same has been redundant following the introduction of
Minister had assured to bring amendment to the VAT Act to enable the IOC to
avail the tax holiday to carry out the construction activities”, he said.
Since the Paradeep
Integrated Petro-Chemical Complex is an important project for the state, the
Chief Minister urged the IOC chairman to expedite the construction work to
complete it on schedule for the benefit of the state.
pertaining to the project would be sorted out soon including the financial incentive
as promised by the state”, Patnaik said.