Odisha counters IOCL claim, says Paradeep refinery can be most profitable

The deadlock between the Odisha government and Indian Oil Corporation Ltd (IOCL) over the award of fiscal incentives has turned bitter. Both IOCL and the state government have locked horns after the government withdrew deferment of value added tax (VAT) awarded to the refinery project to ensure its viability. IOCL has contested the decision of the state government in the Orissa High Court.

While the oil marketing company has been clamouring that the refinery will not be viable without the VAT deferment, the state government has sung a different tune.

"IOCL's Paradeep refinery project is very much viable. Also, being