MRPL gets government’s incentive package for Phase III

MRPL gets government’s incentive package for Phase III

Mangalore Today News Network

Mangalore, June 7, 2012 : Mangalore Refineries and Petrochemicals Limited (MRPL) recently announced that the Government of Karnataka has sanctioned an incentive package for the third phase of its expansion and upgrading project.

 

 

The government has exempted plant and machinery, crude oil, and soft loan for the expansion project of the MRPL to 15 million tons per annum from the present 11.92 million tons.

The company also said that the government has exempted it from paying entry tax on plant and machinery and capital goods for the initial period of 4 years from the date on which the project is implemented.

Besides, the government has also exempted the company from paying entry tax on crude oil required for this third phase expansion over and above the refining capacity of its first and second phase for a period of 15 years from the date the third phase begins its commercial production.