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Indian Government to Restrict Imports of Over Five Years Old Used Plant & Machines

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A meeting of the Committee of Secretaries (COS) under the chairmanship of Cabinet Secretary was held regarding promotion of domestic capital goods industry and which inter-alia reviewed the import policy of used/ second hand capital goods and machinery and their impact on the domestic capital goods industry. The Committee consisted of Secretaries of the Department of Commerce; Department of Industrial Policy & Promotion, Department of Revenue; Planning Commission; Department of Heavy Industry; Ministry of Food Processing Industries. Besides above, other Ministries represented in the meeting were Environment & Forests; Textiles; Micro, Small & Medium Enterprises; Department of Economic Affairs, Directorate General of Foreign Trade (DGFT) and National Manufacturing Competitive Council (NMCC).

Based on the recommendations of the COS, Government has decided not to allow import of machinery more than five years old unless a different maximum age is specified by Department of Commerce, in consultation with concerned Ministry/Department and National Manufacturing Competitiveness Council (NMCC), keeping in view its specific sectoral requirements.

As per information available, the Printing Packaging and Allied Machinery Manufacturers Association has sought restriction on import of second hand/ used printing and allied machineries; but this has not been acceded so far.

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

Nishat to develop 660MW coal power plant under CPEC

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KARACHI: The National Electric Power Regulatory Authority (Nepra) has admitted the application of Nishat Energy Limited (NEL) for consideration of the grant of generation license for its 660 (megawatt) MW proposed thermal generation facility.

NEL to act as a special purpose vehicle and develop a 1x660 MW coal fired power plant at Liaqatpur Tehsil in Rahim Yar Khan.

The project is intended to be financed from the Chinese banks under the China-Pakistan Economic Corridor (CPEC) government to government agreed framework as provided in the CPEC agreement wherein project Rahim Yar Khan is listed at no 12 in the designated projects list.

TBEA Xinjiang SunOasis Company Limited as a co- sponsor would provide technical and project financing proficiencies. TBEA is an upcoming thermal power project developer in China with a proven track record of developing, financing, constructing, and operating coal fired projects in China.

According to a letter of intent (LoI), the project company was diligently working towards the early implementation of the project, on a build own and operate (BOO) basis.

The construction of 660 MW power plants on super-critical technology would take approximately forty-eight months or less from the issuance of notice to proceed to the EPC contractor. The plant commissioning was expected in the fourth quarter of 2020. TBEA, as per the consortium agreement, has taken a lead role in procuring Chinese financing which would also ease the burden on Nishat from seeking project financing from local banking channel with visible foreign exchange liquidity constraints imposed by the State Bank of Pakistan (SBP).

The electricity generated from this project would be supplied to the grid system of National Transmission & Despatch Company (NTDC) Limited through a 500KV grid available in the vicinity of this project. The power generated by the project would be sold for the term of 30 years.

The proposed project site was located in Cholistan Development Authority's jurisdiction, Tehsil Liaquat Pur District Rahim Yar Khan. The entire Site land is owned by the Government without any private lease or encumbrance or occupation. The Company has already been issued a recommendation letter by the energy department by the Government of Punjab to the board of revenue Punjab for the allocation of land for the subject power project.

The target debt equity ratio is 80:20. While a LoI appended as Annex-G was also procured by a potential Chinese equity partner in favor of the project expressing willingness to finance the project subject to customary lenders' due diligence.

The sponsors intends to procure 100 percent of project debt from Chinese banks with support from a reputable Chinese equity partner as an overseas investment loan or an ECA tied financing package or any other financing program which the sponsors deem fit.

In this regard, the Nepra has invited all stakeholders, to submit their comments in favor / or against the grant of generation license to NEL.

Source: dailytimes.com

Adani to spend $300 million on two solar plants in Australia

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Adani aims to develop renewable energy projects in Australia with a capacity of 1,500 MW in the next five years.

Indian energy giant Adani Group has struck land deals in Australia to build two solar plants collectively valued at USD 300 million in a bid to develop 1,500 MW renewable capacity in five years, even as a court today dismissed appeals against its USD 16 billion coal and mine project. The contraction of AUD 200 million (USD 150 million approximately) each solar plants in south Australia’s Whyalla region and in Moranbah in the east of Australia will begin late next year, the company said.

The Whyalla project is to be completed in an year and is expected to create 350 jobs. It will involve a 120 MW solar generation plant, with potential capacity of up to 150MW, which would make it one of the largest solar farms in Australia. The company said it has secured a land deal with Whyalla city council for the project.
Adani aims to develop renewable energy projects in Australia with a capacity of 1,500 MW in the next five years. Its CEO of Australian operations, Jeyakumar Janakaraj, said Adani looked forward to working with the Whyalla community to enhance the South Australian renewable energy industry.

“This is great news for Whyalla. For many years we have promoted Whyalla as a perfect location for solar energy production. We have sun, land, a skilled workforce and a supportive community. Those attributes have attracted the interest of Adani,” said Giles lawmaker Eddie Hughes.

“Construction of the plant will provide a boost to employment and it will provide one element in what is shaping up to be a much brighter future next year,” he said.
Whyalla Mayor Lyn Breuer said the council looked forward to the economic benefits the project would bring. “Whyalla City Council strongly supports renewable projects, and we believe Adani’s solar generator project will bring major benefits to the City of Whyalla and the region as a whole.”

Adani said the solar projects will be in addition to its investment in the planned Carmichael coal mine in Queensland’s Galilee Basin and rail and port facilities.
The Australian Supreme Court today dismissed appeals lodged by the Indigenous community member Adrian Burragubba as well as Brisbane-based environmental group Coast and Country against the company’s AUD 21 billion (USD 16 billion) coal and mine project.

Justice John Bond dismissed the group’s challenge to the environmental approval and Adrian Burragubba’s challenge to a Native Title Tribunal’s decision regarding the mine.

In a statement issued here, Adani Group welcomed the court decisions and said the decisions were “further positive steps towards starting work in the September Quarter 2017 on the Carmichael Mine in central western Queensland and associated projects.”

Source: indianexpress.com

Adani commissions 100 MW solar plant in Punjab

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Adani Enterprises BSE -7.56 % Ltd today announced the commissioning of Punjab's largest solar power plant of 100 MW, at an investment of Rs 640 crore.

The plant has been set up by its subsidiary Adani Green Energy Ltd, Adani Group said in a press release.

Punjab Deputy Chief Minister Sukhbir Singh Badal and senior officials were present on the occasion. The plant is situated at Sardargarh & Chughe Kalan, Bhatinda.

The company said it is using top notch technology to set up the entire 100 MW solar plant project, which has started commissioning almost six months ahead of schedule.

Indirect and direct employment opportunities were created for a total of around 300-400 personnel, who worked diligently to achieve this feat ahead of its time, it said.

"I would like to take this opportunity to express my gratitude to the Chief Minister and the government of Punjab, present here today, for their endless support and playing a huge role in helping us achieve this enormous feat," said Adani Group Renewable Energy Business CEO Jayant Parimal in the statement.

The solar plant is not only the largest project in Punjab but will also prove to be the largest tracker-based solar project in the country.

The technology used for setting up this plant includes Poly Crystalline Silicon PV Modules and Horizontal Single Axis Tracker (HSAT).

This plant will be India's biggest HSAT plant at a single location. The plant spreads over approximately 641 acres of land with the evacuation of 132 kV Balluana Substation through Double circuit 132 KV transmission line. The annual energy yield is expected to be approximately 88,000 Mwh/annum.

Adani Group is a leading player in solar power generation in the country. The company has a 40 MW solar plant at Bitta, Gujarat and has recently unveiled a 648 MW solar power project at Ramanathapuram district in Tamil Nadu which is the world's largest solar power plant at a single location.

Moreover the company has also signed a JV with the Rajasthan government to develop the country's largest solar park in the state with 10,000 MW capacity.

Source: economictimes.indiatimes.com

 

EU pressures China to Curb Steel Production Overcapacity

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The president of the European Commission, Jean Claude Juncker, said that it was "unacceptable" that the steel industry in Europe has lost many jobs, and that China needs to control its steel overcapacity. He made the remarks at the G20 summit in Hangzhou, China.

Juncker said, "Addressing the challenge of overcapacity in a credible manner will be the test case as the European Commission comes to assess the treatment of China in our anti-dumping and antisubsidy investigations".

The overcapacity of steel makes it harder for European countries to compete with China's low steel prices.

Jack Lew, the US Treasury secretary, has previously said that China's "excess capacity has a distorting and damaging effect on global markets".

However, China has vowed to reduce its steel production.

At a press conference on Friday (2 September) China's finance minister Zhu Guangyao said the country is "is taking a lead in actions against production overcapacity among the global economies. China has also launched the strongest policies to address the problem. We have combined market principles with legal means to reduce excessive capacity".

"China has also launched the strongest policies to address the problem. We have combined market principles with legal means to reduce excessive capacity".

The volume of steel China's production is twice as much as that of the next leading producers, which includes countries such as Japan, US , Russia and others. The influx of cheap steel into the global market has led to other country's steel production industries to struggle. In the UK, Tata Steel announced 1,050 job cuts in March 2016.

Source: ibtimes.co.uk

Draft Vehicle Scrapping Policy to be Available in a Fortnight - Indian Govt

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A draft policy on vehicle scrapping for 15 years old heavy vehicles is likely to be ready in a fortnight, says Nitin Gadkari.

The union minister, Nitin Gadkari recently stated to media that the draft policy will be available and ready in next 15 days. The policy is being prepared aiming scrapping of about 15 lakh heavy vehicles, which are over 15-year-old.

Road Transport and Highways Minister, Mr Gadkari quoted, “We intend to scrap about 12-15 lakh heavy vehicles that are 15-year-old, in the 1st phase of our proposed Voluntary Vehicle Fleet Modernisation Programme (V-VMP). The draft policy would be ready in next 15 days.”

Mr Gadkari also added that about 65% of vehicular pollution is due to heavy vehicles, mostly trucks and buses. The scrapping of these vehicles will be done at industrial clusters such as Kandla to be set up under the government’s ambitious Sagarmala project.

In this context, the minister had also called on the Finance Minister, Arun Jaitley, who suggested making the policy mandatory. The Finance Minister also mentioned that instead of excise tax exemptions, funds will be provided for this policy in the Budget.

Benefits of the policy

1. It will provide benefits of INR 2-3 lakh for every heavy vehicle to be scrapped.
2. An additional net revenue of over INR 21,000 crore due to additional automobile sales.
3. Crude oil saving of INR 7,700 crore due to improved fuel efficiency.
4. It is analyzed that domestic steel scrap generation worth INR 55 billion to substitute imported scrap.
5. The automobile industry’s turnover in the country is INR 4.5 lakh crore and making these industrial clusters, there will be huge demand for workforce for scrapping/recycling operations and automobile manufacturing.
6. It has the potential to reduce vehicular emission by 25-30% and save oil consumption by 3.2 billion litres a year.

The Minister termed the policy as a ‘win-win’ for the Indian government, stakeholders and common masses.

Source: events.steelmintgroup.com/draft-vehicle-scrapping-policy-to-be-available-in-a-fortnight-indian-govt

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