26 May 2009 15:27 [Source: ICIS news]
NEW DELHI (ICIS news)--The Indian government has given environmental approval to Cals Refineries Ltd’s (CRL) proposed 5m tonne/year refinery at Haldia in West Bengal State, the company said on Tuesday.
The state government separately approved a special package of incentives for the rupees (Rs) 40.3bn ($852m) project under the West Bengal Incentive Scheme (WBIS), the company added.
According to the WBIS, the state government grants a special package of incentives to large projects on a “case by case basis”. The projects are eligible for cash incentives such as a state capital investment subsidy, industrial promotion assistance and tax incentives such as the waiver of electricity duty and the refund of stamp duty.
Apart from manufacturing transportation fuels, the refinery would have the capacity to produce 180,000 tonnes/year of benzene, 200,000 tonnes/year of propylene and 100,000 tonnes/year of sulphur, a government official said.
The company did not disclose any additional information on the project in a brief statement to the Mumbai Stock Exchange.
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