IOC contradicts Adani after Trinamool MP Mahua Moitra alleges ‘brazen theft’ in LPG deal

IOC has just signed a non-binding MoU with APSEZL till now, it said, adding that it floats no tenders for hiring of facilities at ports to import LPG

Indian Oil Corporation (IOC) on Thursday took to Twitter to clarify on its initial pact for hiring Adani Group's port at Gangavaram in Andhra Pradesh for LPG imports in addition to existing pacts with nearby ports, saying there is no take-or-pay agreement.

The statement, which came in response to Trinamool Congress MP Mahua Moitra raising a stink of a scam in hiring of the port facility without a tender, contradicted Adani Ports and Special Economic Zone Ltd's earning call presentation that said "MoU signed with IOCL for a take-or-pay contract at Gangavaram Port for building LPG handling facilities."

Ms. Moitra, reacting to the news based on the statement in the presentation, tweeted, "Brazen theft".

Tagging Oil Minister Hardeep Singh Puri and CVC on Wednesday evening, Ms. Moitra said, "No tender. No CVC norms. Moving business from Vizag Port to Gangavaram. Skimming from coal, skimming from gas, now skimming from 'chula' in every household. Shame!".

IOC in an unusual move on Thursday sent out a series of tweets to clarify its position.

"IOC has just signed a non-binding MoU with APSEZL till now," it said, adding that it floats no tenders for hiring of facilities at ports to import LPG - a commodity that India is short of production.

"There is no take-or-pay liability or any binding agreement, as of now," it said.