Indonesia’s Yogyakarta province invites Indian investment
By Deepak Arora
NEW DELHI, June 21: With India- Indonesia trade and economic getting a boost in the recent years, the country’s smallest province, Yogyakarta, has invited Indian businessmen to invest in the province.
Speaking at a business meeting on “Investment and Business Opportunity in Yogyakarta Province, Indonesia”, Mr Tri Harjun Wismaji, Secretary of the Yogyakarta, said the province offers great business opportunities and sought building business ties with India.
Indonesian Ambassador Gen. Andi M Ghalib spoke on the growing ties between the two countries. He said India and Indonesia are two biggest democracies in the work and we need to further cooperate, collaborate, enhance and strengthen our relationship.
Ambassador Ghalib said the recent visit of Indonesian President Susilo Bambang Yudhoyono to New Delhi saw the two countries signing 32 MoUs (18 Business to Business and 14 Government to Government) equaling to US $ 16 billion in sectors such as mining, infrastructure and manufacturing.
It may be mentioned that Ambassador Ghalib’s tenure has seen India and Indonesia becoming and growing stronger as economic partners.
The bilateral trade has tripled in the last five years from $4 billion in 2005 to reach $12 billion in 2010. The Ambassador said the next target is to double this in the next five years to $25 billion.
Ambassador Ghalib informed that India’s investment in Indonesia has grown from USD 11.6 million in 2007 to USD 44 million in 2010.
He invited Indian industry to invest in his country which has conducive industrial environment with handsome return on overseas as well as domestic investments.
Princess Gusti Kanjeng Ratu Pembayun, who was the head of the Yogyakarta delegation, said the province has some of the best handicraft of the world.
The Princess said Yogyakarta offers the best scarves and stoles from wild silk, silver handicraft from historic old city, Kotagede, and earthen and ceramic handicraft from Kasongan village.
Similarly, she said Bobung and Krebet villages offers exquisite wood masks and wood batik.
Mr Imbang Listiyadi, Trade Counsellor at the Indonesian embassy, spoke in length on the business and trade ties between the two countries.
Mr Sanjay Sondhi from VITO India have a presentation on tourism trends in Indonesia.
Daerah Istimewa Yogyakarta (DIY), on the island of Java is the smallest province of Indonesia (excluding the capital Jakarta). Yogyakarta is the only province in Indonesia that is still governed by a pre-colonial monarchy, the Sultan of Yogyakarta, who serves as the hereditary governor of the province. The city of Yogyakarta is the capital of the province. In Javanese it is pronounced [jojakart], and named after the city of Ayodhya in Javanese-Hindu mythology.
The Yogyakarta Sultanate was formed in 1755 by the Dutch East India Company (VOC) through the Treaty of Giyanti. The treaty divided the Sultanate of Mataram into the Sultanate of Ngayogyakarta Hadiningrat with Yogyakarta as the capital and the Sultanate of Surakarta Hadiningrat with Surakarta (now commonly known as Solo) as the capital.
The Sultan Hamengkubuwono I spent the next 37 years building the new capital of Yogyakarta, with the Kraton as the centerpiece and the court at Surakarta as the blueprint model. By the time he died in 1792, his territory exceeded Surakarta's.
In September 1945, Sri Sultan Hamengkubuwono IX and Sri Paku Alam VIII, both of Yogyakarta, declared their sultanates part of the Republic of Indonesia following the Republic’s declaration of independence at the end of World War II. When the Dutch reoccupied Jakarta during the ensuing struggle to secure independence, the capital of the Republic was moved to Yogyakarta from January 1946 to August 1950.
In return for this support, the declaration of Special Authority over Yogyakarta was granted in full in 1950 and the region became its own province within the province of Central Java.
Indian Fertiliser Firms Fighting Hard Against Hostile Pricing by Global Potash Suppliers
By Deepak Arora
NEW DELHI, June 1: Indian fertiliser firms are fighting hard against the hostile pricing by global Potash suppliers which has led to failure of negotiations among global potash suppliers and the Indian fertiliser manufacturers. Both the sides failed to arrive at an amicable solution on the high spot price offered for potash.
India, being the second largest importer of Potash demands at least a discount of 10 per cent on the current spot price of Potash around $500 PMT CFR while the suppliers refuse to lower the price that they are currently offering to the Indian buyers.
This year, major potash suppliers including Canpotex are quoting a rate of around $500 per tonne for Potash whereas Indian companies demand that the price should not be over $ 420 per tonne, which is the benchmark import parity price fixed by Government of India to compute the subsidy on potash, which is incorporated into various grades of complex fertilisers.
This contention on pricing could not be resolved even at the recently held International Fertilizer Industry Association's (IFA) annual conference in Montreal, Canada, which is one of the biggest event for the global fertiliser industry that brings together major players in the fertiliser space from around the globe.
Dr.U.S.Awasthi, Managing Director, Indian Farmers Fertiliser Cooperative Limited (IFFCO) and a prominent figure in the Indian fertiliser industry who also represented the Indian farmers at the conference, said “We have jointly clarified to international suppliers that Indian farmers cannot afford to pay current high prices, and it is must that international producers should give us at least 10 per cent discount on the current spot prices”.
He further said that India is a large importer and it should not be equated with other smaller importers around the world and, therefore, India deserves a special treatment when it comes to pricing. He stated that about 600 million people in India depend on agriculture for a living, majority of which are in subsistence agriculture which is not for profit. The Indian Government already helps its farmers out with major subsidy programs.
Dr. Awasthi further said that “We have a potential of tweaking our agricultural practices and take advantage of "sufficient potash" in our soil to avoid import for several seasons, if necessary”.
The Indian farmer is already experiencing the effects of erroneous use of fertilisers on the soil and the soil productivity is also affected severely due to this.
And IFFCO, which is India’s leading fertiliser manufacturing & distributing cooperative society, has been advocating the cause of soil rejuvenation through balanced fertilization of the soil and an integrated approach to promote soil health thru soil testing, green manuring, on farm preparation of organic manure and introduction of crop varieties/hybrids, crop diversification, inter-cropping, water resource development etc.
The farmers are benefitting from such activities and through various other interventions undertaken by IFFCO for the larger good of the Indian farmer.
Dr. Awasthi further went on to say that “Given the existing financial burden on the Indian Government because of the huge subsidy bill and the escalating cost of inputs for the Indian farmer it is appropriate that we think of the larger good of agriculture and the farmer. We don't think farmers can afford a higher price as of today and if the producers don't agree, then we have no intention of buying potash.
He also pointed out that there are greenfield potash projects popping up around the world in Thailand, Canada, Ethiopia and elsewhere and said that India can take advantage of these new supplies over a period of time which would mean less reliance on existing supplier groups in Canada, Russia etc, where Potash is found in abundance.
On the other hand, International suppliers are trying to take unhealthy advantage of Indian firms and are mistaken to think that the Indian fertilizer makers will take a long-term potash import holiday and call the claims to do the same as a mere "negotiating tactic."
It’s worth mentioning that IFFCO decided to start the manufacturing of a new innovative product Urea Ammonium Phosphate (20:20:0:0) grade, which has no potash content at its Kandla unit.
This product was introduced keeping in view the unstable international potash prices and also reduce the dependability on potash in fertilisers production thereby reducing the burden of elevated prices of complex fertilisers on the Indian farmer.
IFFCO has already started India’s First Water Soluble Urea Phosphate Fertiliser Plant at its Kandla unit earlier this year.
Haryana’s economy to grow from $ 30 billion to $ 130 billion: Hooda
Report and Pix by Deepak Arora
NEW DELHI, May 28: Haryana chief minister Bhupinder Singh Hooda has called for greater engagement of private sector to upgrade infrastructure in industrial clusters and said the state will facilitate land acquisition for developers to help its economy grow from 30 billion dollars (about Rs 138,000 crore) to 130 billion dollars (about Rs 598,000 crore) in the next 10 years.
Speaking at ASSOCHAM’s Summit on “Advantage Haryana – Land of opportunities”, Mr Hooda said the Kundli-Manesar-Palwal expressway will facilitate connectivity of Haryana with important sea ports located in south, west and eastern parts of India.
He said “its 135 km route offers new opportunities of development.
Other initiatives include a cargo airport, upgradation of national and state highways, new inter-city connectivity and intra-city transport.” He added the metro will soon connect the national capital with Faridabad and Bahadurgarh besides Gurgaon.
The state is also planning many infrastructure initiatives under the Delhi Mumbai Industrial Corridor project. The industrial infrastructure is being strengthened through development of new industrial model townships and estates. Food parks and IT parks are being developed under the cluster development strategy.
“These projects will provide a great investment opportunity for domestic and foreign investors,” said the chief minister adding the state’s land acquisition and R & R policy is a model worth emulation throughout the country and will be revisited from time to time.
Mr Hooda said Haryana has been able to implement projects with investments of Rs 53,000 crore with another Rs 100,000 crore investments in the pipeline. He quoted an ASSOCHAM study which said the state achieved 81 per cent implementation rate of pledged investments, far ahead of states like Gujarat, Maharashtra, Tamil Nadu and Karnataka.
The Chief Minister also sought more investments from Japanese companies in the state. Haryana has huge investment from Japanese companies mainly in the automobile sector.
Haryana’s minister for commerce and industry Randeep Singh Surjewala said the state has achieved the top position in terms of per capita investment at Rs 78,500 in recent years. He said exports from the state totaled 10 billion dollars in 2009-10 and software exports were to the tune of 5 billion dollars.
Mr Surjewala said the state is committed to build eco-smart cities, a world-class exhibition-cum-convention centre at Gurgaon, an integrated multi-nodal logistics hub and a mass rapid transit system between Gurgaon-Manesar-Bawal.
“In Haryana, we will not judge you by your sub-nationalities, nationalities, language, religion, gender or colour of your skin. Is it not true that you will be judged differently if you belong to a minority community in Gujarat? Is it also not true that certain forces will identify you as not a true Marathi manush in Mumbai?” added Surjewala.
He said Haryana does not have “communal tensions or bootlegger mafia as in Gujarat nor does it permit organised mafia as in Uttar Pradesh to thrive or survive in the state”.
ASSOCHAM’s past president Anil Agarwal said progressive policies have made Haryana a hub for manufacturing automobiles and a host of services.
Chairman of the chamber’s national council for real estate Navin Raheja said the state’s industrial and investment policy is facilitating balanced economic development of hinterland areas, allowing large industrial infrastructure in public-private partnership and supporting SME sector through the cluster approach.
ASSOCHAM secretary general D.S. Rawat said Haryana is actively promoting healthcare services and skill development besides increasing the power generation capacity from 3,570 megawatt to 10,000 MW.
Others present during the summit were financial controller and principal secretary (industries) Y.S. Malik, managing director of Haryana State Industrial Development Corporation Rajeev Arora, chairman of ASSOCHAM’s national council on education Vinay Rai and chairman of ASSOCHAM’s national council on food processing and value addition Karan Chanana and president of Indo Business Centre in Japan Takashi Shimada.
Investors from Japan, Singapore, Malaysia, Thailand, South Korea, Canada, France, Ghana and Senegal attended the summit.
Six nations including India to dominate growth by 2025
NEW YORK, May 17: Six major emerging economies including India will account for more than half of the global growth by 2025 and it is likely that the international monetary system will not be dominated by any single currency by that time, a new World Bank report said on Tuesday.
As economic power shifts, these successful economies will help drive growth in lower income countries through cross-border commercial and financial transactions, the bank said in its latest report 'Global Development Horizons 2011 Multipolarity: The New Global Economy'.
According to the report, the six countries-- Brazil, China, India, Indonesia, South Korea, and Russia-- will grow on average by 4.7 per cent annually between 2011 and 2025.
However, the advanced economies which are expected to grow by 2.3 per cent over the same period will remain prominent in the global economy with the euro area, Japan, the United Kingdom, and the US all playing a core role in fuelling global growth.
"The fast rise of emerging economies has driven a shift whereby the centres of economic growth are distributed across developed and developing economies it's a truly multi-polar world," said World Bank Chief Economist and Senior Vice President of development economics Justin Yifu Lin.
"Emerging market multinationals are becoming a force in reshaping global industry, with rapidly expanding South South investment and FDI inflows. International financial institutions need to adapt fast to keep up," Justin added.
Emerging economies that used to rely on technological adaptation and external demand to grow will have to make structural changes to sustain their growth momentum through productivity gains and robust domestic demand, the report said.
Global Development Horizons maps out the challenges that a multi-polar world economy poses for developing countries over the next 20 years. Growth spillovers are likely via cross-border trade, finance, and migration, which will induce technological transfer, and increase demand for exports, it added.
With the emergence of a substantial middle class in developing countries and demographic transitions underway in several major East Asian economies, stronger consumption trends are likely to prevail, which in turn can serve as a source of sustained global growth.
"In many big emerging economies, the growing role of domestic demand is already apparent and outsourcing is already under way," World Bank Director of development prospects Hans Timmer said.
"This is important for the least developed countries, which are often reliant on foreign investors and external demand for their growth," he added.
"Over the next decade or so, China's size and the rapid globalisation of its corporations and banks will likely mean a more important role for the renminbi," World Bank manager of emerging trends and lead author of the report Mansoor Dailami said.
"The most likely global currency scenario in 2025 will be a multi-currency one centered around the dollar, the euro, and the renminbi," he said.
To sustain growth and cope with more complex risks, economies that are home to emerging growth poles need to reform domestic their institutions, including in the economic, financial, and social sectors.
China, Indonesia, India, and Russia all face institutional and governance challenges. Human capital and ensuring access to education is a concern in some potential growth poles, particularly Brazil, India, and Indonesia.
"The projected changes in the global economy are fundamental. Overall, these shifts will likely be positive for developing countries. However, a key question is whether existing multilateral norms and institutions are sufficiently strong to accommodate the passage toward multi-polarity.
"The challenges of managing global integration among power centers makes strengthening policy coordination across economies critical to reducing the risks of economic instability," Dailami added.
Despite Fukushima, Manmohan bats for nuclear energy
ON BOARD the PM'S AIRCRAFT, April 17: Despite the leak of radiation from the Fukushima nuclear power plant in Japan, Prime Minister Manmohan Singh said he was convinced that nuclear energy would remain one of the “essential options” which all countries must keep in order to deal with problems such as climate change and energy security.
Asked during a meet with journalists, who had accompanied him to China and Kazakhstan, why the government was still keen on going ahead with nuclear power plants despite the Fukushima incident, the Prime Minister said that despite the nervousness over extensive use of nuclear energy even for peaceful purposes, “I am convinced that when all is said and done, when cool headed discussions take place about the future of energy, what are the problems with coal, what are the problems of with other hydrocarbons, in terms of their impact on climate change,” there would be no reconsideration about the role of nuclear energy.
Dwelling on his meeting with Chinese President Hu Jintao, Dr. Singh hoped that concrete results on resolving the friction on the Sino-Indian border will be visible in the near future. This would be achieved by a new mechanism to maintain peace and tranquillity on the border. The proposal was made by Chinese Premier Wen Jiabao when he visited India last December.
Dr. Singh also disclosed that after he raised the issue of the huge trade imbalance in bilateral trade, Mr. Hu conceded that China also had the responsibility to tackle the problem of trade imbalances. In this respect, the Prime Minister specifically mentioned two areas — pharmaceuticals and information technology — where Indian companies have been struggling to enter the Chinese market.
Answering a wide range of questions on his way back after attending the first-ever BRICS (Brazil, Russia, India, China and South Africa) summit in China which was followed by his maiden visit to Kazakhstan, the Prime Minister said he would consider his job “well done” if he could succeed in normalising relations with Pakistan to the extent that both countries begin treating each other as normal neighbours do.
The Prime Minister provided a reality check to those suggesting that a permanent seat for India at the United Nations Security Council (UNSC) was close at hand. There was growing support that the UNSC and other international organisations must reflect realities of the contemporary age rather than being “embedded in an era that is dead and gone.”
“But I would not say we are there. As such, it is a work in progress though there is growing support for India's permanent membership of the UNSC,” he added when asked whether after the BRICS summit, the goal of getting a permanent seat is near.
Asked whether the last few months of criticism had disturbed him, the Prime Minister said, “I am not disturbed but I have always believed that if winter comes, can spring be far behind?”
On the possibility of a Cabinet reshuffle, he said there was “still some time to go.”
Indo-French Joint Venture to help India make Tsunami-proof nuclear plants: Surinder Mehta
By Deepak Arora
NEW DELHI, April 15: Keeping in mind the recent dreadful Tsunami tragedy in Japan, India’s nuclear power plants would be more efficient and safer than ever before, according to Mr Surinder Mehta, PCI Chairman.
“India’s future nuclear power plants will be able to withstand the recent Tsunami force that struck Japan with vengeance and crippled the Fukushima Daiichi nuclear plant,” said Mr Mehta after signing a joint venture with France-based Onet Group.
Onet Technologies, a French major, is undoubtedly one of the most reputed companies in the world.
The joint venture -- Onet Technologies India -- would offer nuclear power services, including engineering design expertise, service and maintenance work, decommissioning and waste management.
He said the joint venture which has been formed with the sole intent to serve the great country India through the advanced technologies and services, built over with vast experience and R&D, done by Onet Technologies in this specialised field of Nuclear energy services for the last over 30 years.
“This joint venture in true sense is an answer to what the whole world witnessed recently as a dreadful experience in Japan,” said Mr Mehta, who has been honoured with 'Padma Shri', a national civilian award by the President of India.
The Prime Group Chairman said “the Joint Venture will give us this huge opportunity to provide technology based support and contribution to the nuclear industry in our country.”
Extending full support to the joint venture, he said “it will provide a meaningful support to this very important sector of the rapidly growing; energy starved, or let me say on a positive note, energy hungry economy of our country.”
Mr Mehta said the joint venture would help in achieving further efficiency and high degree of safety and security through technology based solutions and through use of robotics for maintenance and even remote maintenance of existing and upcoming nuclear installations.
“This is going to be the starting point of this JV and as such, this JV in true sense, is in the direction of supporting the nuclear industry in India, to be more efficient and more safer than ever before and therefore, in a way, it is truly, an answer to what the whole world witnessed recently, as a dreadful experience in Japan,” he added.
To achieve it's objectives, he said the joint venture would be using the know-how, experience and expertise, specialised equipments, component and training from Onet Technologies and all this coupled with Prime Group's local infrastructure, engineering facilities, existing as well as those under implementation, business development expertise and the technical manpower resources who will be duly trained by Onet experts with specifics to this field.
All this provides a strong base and absolute synergy between Onet Group and the Prime Group to make this joint venture, extremely viable and highly useful vehicle to make a valuable contribution to the Indian Nuclear Industry, on a long term and sustainable basis, said Mr Mehta.
He said all know that Indian Nuclear scientists are second to none in the world and joining hands with such world class and highly qualified and experienced Indian scientists and engineers, Onet Technologies through this joint venture, intends to further add to their skills in terms of efficiency, safety and security through advanced technological skills of Onet specialists, thus making 1 + 1 as truly 11.
“And this is precisely what has really motivated me personally to enter into this JV,” he added.
Lauding the undisputed French supremacy in the field of Nuclear Services Technology, Mr Mehta said the French Government’s open and strong support for India’s nuclear programme, when most of the other nuclear nations were against us, motivated me to go for this joint venture with the French company.
Prime Group has been providing technical equipment and technology based solutions to the entire spectrum of power sector in the country, be it thermal, hydro or renewable energies, including power generation through resources like wind and solar.
“Today we have completed our journey when we inked this JV for technology based services and support for the Nuclear energy segment, the only missing energy source in our range of products and activities that we serve, particularly when it comes to power,” said Chairman of the Prime Group.
He said this joint venture would cover all vital areas of nuclear industry and very comprehensively, like design and engineering, maintenance, safety and security, waste management and de-commissioning, plant management and operation and providing comprehensive services and equipment and components for refurbishment or playing a significant role in setting up of new capacities and also for providing tailor made solutions to handle and solve specific and typical problems that face the nuclear industry in India from time to time, today or at any time in future.
Through this joint venture with Onet Technologies, Mr Mehta said “we look forward to making our significant, yet humble contributions to the nuclear energy program of the country for which the Indian Government is deeply committed to, and in fact, we are grateful to the country and to the Govt., to have provided us with the platform and the opportunity through this civilian Nuclear programme, to serve our country in this vital field of Nuclear energy as a private company, and in the process, to contribute our bit to make the present as well as future Nuclear plants in the country to work more efficiently, safely and securely.”
Mr Mehta assured the country that through this joint venture “we will make our meaningful contribution to the ongoing, much broader effort being undertaken at National level, to ensure that Japan is not repeated in India.”
PCI, Onet Tech set up JV for nuclear power services
By Deepak Arora
NEW DELHI, April 6: PCI Ltd , part of diversified Prime Group, and French entity Onet Technologies have set up a joint venture to provide various services to the Indian nuclear power industry.
The joint venture -- Onet Technologies India -- would offer nuclear power services, including engineering design expertise, service and maintenance work, decommissioning and waste management.
"This is the right time to invest in India, which has a huge potential for nuclear power market... We intend to invest (in India) step by step," said Dominique Mouillot, President of Onet Technologies.
Without divulging financial details, PCI Chairman Surinder Mehta said that huge investments are in the pipeline. Onet Technologies would have 70 per cent shareholding in the joint venture while the remaining stake would be with PCI.
Both companies are working out equity structuring and investments to be made in the joint venture.
PCI, the flagship company of Prime Group, offers technology solutions to power, energy and aerospace industries, among others.
Onet Technologies is part of USD 1.35 billion Onet Group, that mainly provides services to the nuclear industry.
In the first phase, the joint venture focus on training nuclear technologists in India. Bilateral visits of experts and nuclear industry professionals are also planned.
"We will also be exploring opportunities to invest in manufacturing facility in India," said Mouillot.
The joint venture would also explore setting up a R&D facility in the country.
Going by estimates, nuclear power is expected to account for about 25 per cent of the Indian power needs by 2050.
Anand Sharma Launches Product to Promote Project Exports from India
NEW DELHI, April 6: In a significant bid to give an impetus to project exports from India the Union Commerce and Industry Minister, Shri Anand Sharma today launched ‘Buyer’s Credit Under the NEIA’ a new product that will enable Indian companies to be in a competitive position vis-a-vis peers from other nations in project bids.
Sovereign Governments and Government owned entities overseas can use the Buyer’s Credit facility for financing import of projects from India on deferred payment terms. The scheme has been developed by Export-Import Bank of India (EXIM Bank) in conjunction with the Export Credit Guarantee Corporation of India Ltd. (ECGC).
While launching Buyer’s Credit under NEIA, Mr Sharma said, “Currently, not many project exports are venturing out in overseas markets. In fact, the number of project exporters is dwindling. There is vast scope for diversification of markets for project exports from India and for enhancing project export business into the existing market.
Developing countries are the major markets for India’s project exports, and these countries demand medium to long-term credits. With the introduction of this new product, I am sure, many project exporters would be in a position to venture into new markets, and help diversify India’s exports.”
Speaking at the launch, EXIM Bank Chairman and Managing Director, Shri T.C.A. Ranganathan said, “The product with its attractive feature of extending credit directly to overseas buyers of projects from India without recourse to Indian exports, will lead to a substantial rise in exports from India. Credit period would normally be 5 to 8 years, however, longer credit period could be considered in deserving cases.”
Explaining the features of the product ECGC chairman and managing director Shri Arvind Mehta said, “While EXIM Bank will extend the credit facility, it will obtain credit insurance cover under NEIA through ECGC and the insurance premium will be borne by the project exporter.”
IFFCO’s Paradip unit posts record production
BHUBANESWAR, April 3: IFFCO’s plant at Paradip, in Orissa, achieved record production of 16.62 lakh tonnes of fertiliser during 2010-11, surpassing the target of 16.30 lakh tonnes for the year.
The fertiliser giant’s highest-ever yearly complex fertiliser output of 16.62 lakh MTs was achieved in 2010-11, as against the previous annual record of 15 lakh MTs in 2009-10.
Similarly, the plant achieved the highest-ever production of 6.56 lakh MTs of Phosphoric Acid (P2O5) during the year, surpassing the previous record of 4.62 lakh MT in 2009-10, according to the Senior Executive Director of the plant, Mr M R Patel.
The highest ever yearly sulphuric acid production of 19 lakh MT was achieved by the Paradip plant in 2010-11, surpassing the previous record of 14.28 lakh MT in 2009-10, he said, disclosing the unit’s annual performance in a statement.
Record DAP production of 9.16 lakh MT was achieved in 2010-11 as well, surpassing the previous yearly output record of 5.93 lakh MT in 2007-08. Similarly, production of 5.71 lakh MT of P2O5 fertilizer was achieved during the year, surpassing the previous yearly highest production of 4.05 lakh MT in 2009-10.
Power exports from the plant touched 39,024 MWH during the year, surpassing the previous highest of 24,183 MWH in 2009-10, company sources said, adding that the highest—ever yearly complex fertilizer dispatch of 16.62 lakh MT was achieved during the year as well, as against the previous record of 14.99 lakh MT in 2009-10.
During the year, 37.56 lakh MT of cargo (raw material imported) through Paradip Port was handled at the plant, surpassing the previous high of 31.05 lakh MT in 2009-10.
Capacity utilisation at the plant was also impressive, as it achieved its highest ever yearly complex fertilizer plant capacity utilisation of 94.81 per cent, surpassing the previous high of 90 per cent in 2009-10.
GAIL launches integrated gas management system
NEW DELHI, April 1: Gas utility GAIL India said it has launched Asia's first integrated gas management system to track all information on transmission and distribution of natural gas in the country.
The SAP (application)-based Gas Management System, third of its kind in the world after Petrobras in Brazil and Pemex in Mexico, was launched at GAIL's corporate office in New Delhi by Minister of State for Petroleum and Natural Gas R P N Singh.
"The Gas Management System will put an integrated and enterprise wide system in place, covering GAIL's entire pipeline network," it said.
All the information related to commercial transactions like gas volume, calorific value, consumption of gas, value of gas consumed, nominated quantity of the gas delivered, transmission tariff, price of gas, other costs and applicable taxes will be available on real time basis.
"The system will help in monitoring operational aspects of the pipeline on real time basis including information regarding network utilisation, gas sales, volume transferred, revenue generation through gas sales and price variations," GAIL said.
It will facilitate online invoicing which could be downloaded at customers' end from the GMS portal directly, thus enabling better customer service and faster realisation.
GAIL presently operates over 8,000 km of trunk gas pipeline network in the country with a capacity to transport 160 million standard cubic meters per day of gas.
The company is implementing projects to add another 6,700 km of pipeline at an investment of Rs 30,000 crore over the next two years.
This will enhance the transmission capacity to around 300 mmscmd and enable GAIL to reach out to customers in 16 states in the country.