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Duty concession for Haldia-Paradip pipeline likely
PM News Bureau
The Union petroleum ministry has reportedly recommended a proposal to the finance ministry for concessional project import duties for its proposed Haldia-Paradip pipeline project. It may be recalled that, in 2002, the Central Excise & Customs Board had declared 12 pipelines eligible for concessional project duties of which five were of IOC. Now IOC wants this concession to be extended to the Haldia-Paradip crude pipeline. The company plans to lay a pipeline between Paradip in Orissa and Haldia in West Bengal at a cost of Rs 1,154 crore.
The plan envisages the development of a tank farm at Paradip that would be capable of handling high sulphur and low sulphur crude to be stored separately. Around 15 tanks each of 60,000-kilolitre capacity would be set up for this purpose.
Duty concession for Haldia-Paradip pipeline likely
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