Hyderabad: Industrial and automotive batteries manufacturer Amara Raja Batteries, in which the US battery giant Johnson Controls holds 26% stake, has decided to spend Rs 440 crore on augmenting production capacities of its VRLA and four-wheeler batteries over the next 16-18 months.
The board of the company, which met on Monday to take record the audited financial results for the quarter ended December 2012, has approved the proposal on investments on expansion of large VRLA and four-wheeler batteries of the company's facilities located near Tirupathi in Andhra Pradesh.
Executive Director Ravi Bhamidipati said the fresh investments were in addition to already approved capital investment of Rs 304 crore to expand capacities in medium VRLA, automotive four-wheeler and automotive two-wheeler lines.
Amara Raja manufactures batteries to Indian railways,power, oil and gas sectors. It counts among its major clients the leading Indian automobile players such as Ashok Leyland, Ford India, Honda, Hyundai, M&M, Maruti Suzuki and TATA Motors. The company also exports products to Asia Pacific, Africa and Middle East.
"We continue to enjoy debt free status with free cash of over Rs 350 crore as on December 31, 2012. The capacity expansion programs undertaken in the last 12 months are progressing as per schedule," said chief financial officer K.Suresh.
For the quarter to December 2012, Amara Raja reported a 23% growth in its consolidated net profit at Rs 81 crore compared to the same quarter a year ago of Rs 66 crore, while it saw its net sales grew by 24% at Rs 757 crore from Rs.612 cr a year ago.
Managing Director Jaydev Galla said teh company is confident of growth prospects and continues to invest in capacities in the medium to long range despite slack demand from OE customers in automotive segment, supply challenges, power tariff hike, rising commodity and fuel prices and volatility in currency markets.
Success in my Habit
Wednesday, January 30, 2013
Kerala industrial body sets up container freight station at Kalamassery
Kochi: Aimed at tapping growing business opportunities from the Vallarpadam Terminal, the State-owned Kerala State Industrial Enterprises (KSIE) has set up a container freight station at Kalamassery.
The Rs 25-crore venture, established at 8.5 acres owned by the company, would cater to the emerging needs of the International Container Transhipment Terminal at Vallarpadam.
The facility has an 80,000 sq ft customs-bonded cargo handling centre to manage export and import operations and can handle 1,000 containers at a time, Mayin Haji, Chairman and Febi Varghese, Managing Director, KSIE, said.
All modern facilities have been incorporated for the security and smooth operations of the freight station in accordance with international standards. It can provide direct employment to 100 eligible candidates and indirect employment to 500 persons.
KSIE has arranged facilities for container stuffing and de-stuffing and for the smooth movement of cargo. The project would also be helpful in providing time-bound services to the Exim trade after the Customs clearance proceedings, they said.
Kerala Industries Minister P.K. Kunhalikutty, who had recently inaugurated the facility expressed the hope that the new CFS could play a leading role in the movement of transhipment cargo from this region, which is emerging as a leading destination connecting the global shipping trade.
According to KSIE officials, the company had ventured into CFS as part of its diversification process by utilising its land availability to build up the facility. Close proximity to the Vallarpadam terminal and road connectivity are considered an added advantage for the CFS, set up by the company.
Sources in the shipping fraternity said that logistics business is expected to pick up in the region offering good business opportunities for CFS operations following the relaxation of Cabotage restrictions.
It is pointed out that the port management has also planned CFS’s in order to develop Vallarpadam into a major logistics hub by earmarking 54 acres near the ICTT with private participation.
Besides, the setting up of more number of CFS would generate more job opportunities, the sources said.
The CFS facility near ICTT considered being a great support to the traders as they can meet all their shipping requirements under one roof, that too near the ICTT, the sources added.
The Rs 25-crore venture, established at 8.5 acres owned by the company, would cater to the emerging needs of the International Container Transhipment Terminal at Vallarpadam.
The facility has an 80,000 sq ft customs-bonded cargo handling centre to manage export and import operations and can handle 1,000 containers at a time, Mayin Haji, Chairman and Febi Varghese, Managing Director, KSIE, said.
All modern facilities have been incorporated for the security and smooth operations of the freight station in accordance with international standards. It can provide direct employment to 100 eligible candidates and indirect employment to 500 persons.
KSIE has arranged facilities for container stuffing and de-stuffing and for the smooth movement of cargo. The project would also be helpful in providing time-bound services to the Exim trade after the Customs clearance proceedings, they said.
Kerala Industries Minister P.K. Kunhalikutty, who had recently inaugurated the facility expressed the hope that the new CFS could play a leading role in the movement of transhipment cargo from this region, which is emerging as a leading destination connecting the global shipping trade.
According to KSIE officials, the company had ventured into CFS as part of its diversification process by utilising its land availability to build up the facility. Close proximity to the Vallarpadam terminal and road connectivity are considered an added advantage for the CFS, set up by the company.
Sources in the shipping fraternity said that logistics business is expected to pick up in the region offering good business opportunities for CFS operations following the relaxation of Cabotage restrictions.
It is pointed out that the port management has also planned CFS’s in order to develop Vallarpadam into a major logistics hub by earmarking 54 acres near the ICTT with private participation.
Besides, the setting up of more number of CFS would generate more job opportunities, the sources said.
The CFS facility near ICTT considered being a great support to the traders as they can meet all their shipping requirements under one roof, that too near the ICTT, the sources added.
GSK-Biological E tie-up on combination vaccine
Mumbai: Multinational drug-maker GlaxoSmithKline and the Hyderabad-based Biological E Limited have come together for early stage research and development of a six-in-one combination paediatric vaccine against polio and other infectious diseases.
The companies said they would form an equally-partnered venture to develop the vaccine that would help protect children in India and other developing countries. If approved, the vaccine could be a first of its kind, a GSK note said, as it would combine GSK’s injectable polio vaccine (IPV) and Biological E’s pentavalent vaccine for diphtheria, tetanus, whooping cough (whole-cell pertussis), hepatitis B, and Haemophilus influenzae type b.
Fewer Injections
The vaccine would enable fewer injections for children, thereby improving compliance in immunisation schedules. The fully liquid formulation of the vaccine also means it would be ready to use with no additional ingredients or materials required, freeing up space at local storage facilities.
The venture will bear the development costs for the candidate vaccine, which is expected to enter phase 1 development in the next two years. In phase 1 trials, the product is exposed for the first time to a small group of healthy human volunteers to evaluate the safety profile of the drug. A small initial cash investment will be made by both companies to cover start-up costs and subsequent development costs will be split equally, the note said.
Fight Against Polio
Christophe Weber, President of GSK Vaccines, said the agreement was aligned to GSK’s vision of providing quality vaccines to those in need and by leveraging Biological E’s strengths, this particular vaccine had the potential to play a significant role in the fight against polio.
Vijay Kumar Datla, Chairman Biological E, said that they expect to leverage the partnership to accelerate the development of the hexavalent vaccine and make IPV accessible for developing countries in the post-eradication phase for polio.
The companies said they would form an equally-partnered venture to develop the vaccine that would help protect children in India and other developing countries. If approved, the vaccine could be a first of its kind, a GSK note said, as it would combine GSK’s injectable polio vaccine (IPV) and Biological E’s pentavalent vaccine for diphtheria, tetanus, whooping cough (whole-cell pertussis), hepatitis B, and Haemophilus influenzae type b.
Fewer Injections
The vaccine would enable fewer injections for children, thereby improving compliance in immunisation schedules. The fully liquid formulation of the vaccine also means it would be ready to use with no additional ingredients or materials required, freeing up space at local storage facilities.
The venture will bear the development costs for the candidate vaccine, which is expected to enter phase 1 development in the next two years. In phase 1 trials, the product is exposed for the first time to a small group of healthy human volunteers to evaluate the safety profile of the drug. A small initial cash investment will be made by both companies to cover start-up costs and subsequent development costs will be split equally, the note said.
Fight Against Polio
Christophe Weber, President of GSK Vaccines, said the agreement was aligned to GSK’s vision of providing quality vaccines to those in need and by leveraging Biological E’s strengths, this particular vaccine had the potential to play a significant role in the fight against polio.
Vijay Kumar Datla, Chairman Biological E, said that they expect to leverage the partnership to accelerate the development of the hexavalent vaccine and make IPV accessible for developing countries in the post-eradication phase for polio.
4 FDI Proposals Amounting to Rs. 280.00 Crore Approved by FIPB
Further to Para 5 of the Press Release dated January 11, 2013 regarding Foreign Direct Investment (FDI) proposals approved by FIPB, wherein it was stated that decision in case of the Five (5) proposals will be communicated separately, the Central Government has now approved the following Four (4) proposals out of them amounting to Rs. 280.00 crore approximately.
Following 4 (Four) proposals have been approved.
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows(` In crore)
ECONOMIC AFFAIRS
1 M/s IvyCap Ventures Trust To allow NRI investment through normal banking channels in compliance with FEMA Regulations and extant FDI Policy. 200.00
ELECTRONICS & INFORMATION TECHNOLOGY
2 M/s Wipro Limited, Bangalore Transfer of shares by way of swap consequent to a demerger of non-IT activities. The company is engaged primarily in IT sector and also in other diversified activities including defence. Nil
POWER
3 M/s Spanco Power Distribution Ltd., Mumbai Post facto approval to act as an investing company and make downstream investments in its WoS and other companies in the power distribution sector. 80.00
ELECTRONICS & INFORMATION TECHNOLOGY
4 M/s GPX India Private Limited, Maharashtra To issue equity shares to the Foreign Collaborator against import of capital goods/equipment/machinery to carry out the business of setting up of domestic Other Service Provider (OS) (Data Centre) for providing various products and services to its clients/customers. Nil
2. The following 1 (One) proposal has been deferred:
Sl. No Name of the applicant Particulars of the proposal
1 M/s Yalamanchili Software Export Ltd., Chennai Conversion of non-repatriable equity held by majority shareholder to repatriable equity and share swap of this holding to shares of a foreign company.
Following 4 (Four) proposals have been approved.
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows(` In crore)
ECONOMIC AFFAIRS
1 M/s IvyCap Ventures Trust To allow NRI investment through normal banking channels in compliance with FEMA Regulations and extant FDI Policy. 200.00
ELECTRONICS & INFORMATION TECHNOLOGY
2 M/s Wipro Limited, Bangalore Transfer of shares by way of swap consequent to a demerger of non-IT activities. The company is engaged primarily in IT sector and also in other diversified activities including defence. Nil
POWER
3 M/s Spanco Power Distribution Ltd., Mumbai Post facto approval to act as an investing company and make downstream investments in its WoS and other companies in the power distribution sector. 80.00
ELECTRONICS & INFORMATION TECHNOLOGY
4 M/s GPX India Private Limited, Maharashtra To issue equity shares to the Foreign Collaborator against import of capital goods/equipment/machinery to carry out the business of setting up of domestic Other Service Provider (OS) (Data Centre) for providing various products and services to its clients/customers. Nil
2. The following 1 (One) proposal has been deferred:
Sl. No Name of the applicant Particulars of the proposal
1 M/s Yalamanchili Software Export Ltd., Chennai Conversion of non-repatriable equity held by majority shareholder to repatriable equity and share swap of this holding to shares of a foreign company.
Anand Sharma Launches eBiz Portal
New Delhi: The Union Minister for Commerce, Industry & Textiles Shri Anand Sharma launched an eBiz portal at the CII Partnership Summit in Agra today. The portal is India’s Government-to-Business (G2B) portal developed by Infosys in a Public Private Partnership (PPP) Model. “This Mission Mode Project will mark a paradigm shift in the Government’s approach to providing Government-to-Business (G2B) services for India’s investor and business communities,” said Shri Sharma while launching the portal.
In order to enable businesses and investors to save time and costs and in order to improve the business environment in the country, an online single window was conceptualised in the form of the eBiz Mission Mode Project under the National eGovernance Plan. Shri Sharma said that the “project aims to create a business and investor friendly ecosystem in India by making all business and investment related regulatory services across Central, State and local governments available on a single portal, thereby obviating the need for an investor or a business to visit multiple offices or a plethora of websites.”
Shri Sharma further said that the core value of the transformational project lies in a shift in the Governments’ service delivery approach from being department-centric to customer-centric. “eBiz will create a 24x7 facility for information and services and will also offer joined-up services where a single application submitted by a customer, for a number of permissions, clearances, approvals and registrations, will be routed automatically across multiple governmental agencies in a logical manner.” “An inbuilt payment gateway will also add value by allowing all payments to be collected at one point and then apportioned, split and routed to the respective heads of account of Central / State / Para-statal agencies along with generation of challans and MIS reports. This payment gateway is the first of its kind designed in India and can become a universal payment gateway for all eGovernance applications,” added Shri Sharma.
The Department of Industrial Promotion & Policy, Ministry of Commerce & Industry, Government of India, is the Nodal Government Agency responsible for the implementation of the eBiz Project. Infosys Technologies Ltd. has been selected as the Concessionaire/ Project Implementation Partner and is responsible for the design, development, implementation and maintenance of the eBiz Solution.
Shri Sharma said that the government is “firmly committed to wide-ranging initiatives aimed at fostering the business environment in the country in a holistic manner. Our approach includes leveraging technology to bring transparency, improve efficiency and promote convenience. eBiz is an important step in this direction and we are pleased to work in partnership with Infosys on this project, which we hope will become a benchmark for successful Public Private Partnerships (PPPs) in the country.”
Speaking on the occasion, Shri Saurabh Chandra, Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry observed that “the eBiz Project is the first of its kind ever implemented in the country. It marks the highest level of maturity in web-based eGovernance applications as it strives to achieve horizontal integration across various verticals of Central government, State governments and Para-statal agencies”.
The first phase of the project, which was being launched today, provides an interactive tool that helps investors assess the Licenses and Permits requirements while setting up and operating a business in India. The License & Permit Information wizard will provide authentic information 24X7 to investors and businesses by providing answers to questions in an interview style format.
In order to enable businesses and investors to save time and costs and in order to improve the business environment in the country, an online single window was conceptualised in the form of the eBiz Mission Mode Project under the National eGovernance Plan. Shri Sharma said that the “project aims to create a business and investor friendly ecosystem in India by making all business and investment related regulatory services across Central, State and local governments available on a single portal, thereby obviating the need for an investor or a business to visit multiple offices or a plethora of websites.”
Shri Sharma further said that the core value of the transformational project lies in a shift in the Governments’ service delivery approach from being department-centric to customer-centric. “eBiz will create a 24x7 facility for information and services and will also offer joined-up services where a single application submitted by a customer, for a number of permissions, clearances, approvals and registrations, will be routed automatically across multiple governmental agencies in a logical manner.” “An inbuilt payment gateway will also add value by allowing all payments to be collected at one point and then apportioned, split and routed to the respective heads of account of Central / State / Para-statal agencies along with generation of challans and MIS reports. This payment gateway is the first of its kind designed in India and can become a universal payment gateway for all eGovernance applications,” added Shri Sharma.
The Department of Industrial Promotion & Policy, Ministry of Commerce & Industry, Government of India, is the Nodal Government Agency responsible for the implementation of the eBiz Project. Infosys Technologies Ltd. has been selected as the Concessionaire/ Project Implementation Partner and is responsible for the design, development, implementation and maintenance of the eBiz Solution.
Shri Sharma said that the government is “firmly committed to wide-ranging initiatives aimed at fostering the business environment in the country in a holistic manner. Our approach includes leveraging technology to bring transparency, improve efficiency and promote convenience. eBiz is an important step in this direction and we are pleased to work in partnership with Infosys on this project, which we hope will become a benchmark for successful Public Private Partnerships (PPPs) in the country.”
Speaking on the occasion, Shri Saurabh Chandra, Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry observed that “the eBiz Project is the first of its kind ever implemented in the country. It marks the highest level of maturity in web-based eGovernance applications as it strives to achieve horizontal integration across various verticals of Central government, State governments and Para-statal agencies”.
The first phase of the project, which was being launched today, provides an interactive tool that helps investors assess the Licenses and Permits requirements while setting up and operating a business in India. The License & Permit Information wizard will provide authentic information 24X7 to investors and businesses by providing answers to questions in an interview style format.
Saturday, January 26, 2013
GEA sets up decanter unit
New Delhi: Düsseldorf-headquartered GEA Group has set up a facility in Bangalore to expand its decanter manufacturing capacity.
GEA Westfalia Separator India, the Indian arm of the ^6-billion GEA Group, has a capacity of producing 250 decanters annually at its Bangalore factory at present.
With the expansion, GEA Westfalia Separator India will be able to meet demands from other market segments, including process customisations, said Ashok Narula, managing director.
The Bangalore unit has the capacity to produce decanters up to 350 mm diametre for environmental application.
Since 2006, the company has exported about 500 decanters worldwide from its Bangalore factory. Prototype decanter centrifuge UCD 205 was also developed at the facility. Inaugurating the facility, the mechanical equipment president, Markus Hullmann, said 2,500 applications GEA offers globally are now available in India. “We strongly feel the Indian Industry deserves the best in world-class technology,” he added.
GEA Westfalia Separator, which started with the production of milk separators that separate cream from milk, currently provides solutions to several industries with focus on food, pharma, and energy. In India, the company has presence in antibiotic projects, dairy, casein, naphtha treatment, vaccine projects, fruit juice, instant coffee and edible oil industry.
Initially, the company had restricted itself in the chemical, pharma and casein industry in India as competition was less. It has later spread wings in other areas as custom duties came down in specific areas.
GEA Westfalia Separator India, the Indian arm of the ^6-billion GEA Group, has a capacity of producing 250 decanters annually at its Bangalore factory at present.
With the expansion, GEA Westfalia Separator India will be able to meet demands from other market segments, including process customisations, said Ashok Narula, managing director.
The Bangalore unit has the capacity to produce decanters up to 350 mm diametre for environmental application.
Since 2006, the company has exported about 500 decanters worldwide from its Bangalore factory. Prototype decanter centrifuge UCD 205 was also developed at the facility. Inaugurating the facility, the mechanical equipment president, Markus Hullmann, said 2,500 applications GEA offers globally are now available in India. “We strongly feel the Indian Industry deserves the best in world-class technology,” he added.
GEA Westfalia Separator, which started with the production of milk separators that separate cream from milk, currently provides solutions to several industries with focus on food, pharma, and energy. In India, the company has presence in antibiotic projects, dairy, casein, naphtha treatment, vaccine projects, fruit juice, instant coffee and edible oil industry.
Initially, the company had restricted itself in the chemical, pharma and casein industry in India as competition was less. It has later spread wings in other areas as custom duties came down in specific areas.
Cathay Pacific to offer more direct flights from Mumbai to Hong Kong
Mumbai: Hong Kong based full service airline Cathay Pacific would add more direct flights from Mumbai to Hong Kong starting April. The airline will also introduce its new product line of the premium economy cabin on this route after launching it in Delhi and Chennai last year.
Cathay that has India route among the top 10 revenue earners will add three more direct flights from Mumbai to Hong Kong as it withdraws stopover flights from the finance city to Hong Kong via Bangkok. The network carrier said 75% of its passenger carriage is transit passengers mainly to China and the west coast of US.
Charlie Stewart - Cox, its newly appointed general manager for South East Asia, Middle East and Africa based out of Mumbai said that in the current downturn India as a market is still robust and is one of the few economies that are growing.
"For Cathay 2013 will be a good year in India as we have increased flights in this market last year by adding eight percent more capacity compared to 2011 and we will continue to seek growth opportunities and add more products in this market, " Cox said.
Cathay is betting big on its premium economy cabin as this new product which Cathay says it is the only airline to offer from the Indian market is slated to push the yields up by 30% for the airline. The product offers separate noiseless cabin for travellers, more leg space and bigger seats with rebooted entertainment system.
The premium economy class according to Cathay's regional sales and marketing manager for South Asia, Rakesh Raikar, will push the aspiring and young Indian travellers to an upgrade from economy to the premium economy cabin. The airline said its front sets are getting filled up to 50%-60% and generally flights are 80% full.
Cathay along with its sister airline Dragonair flies 46 weekly flights from six ports in India. It recently added Hyderabad in its network with four weekly flights.
Cathay that has India route among the top 10 revenue earners will add three more direct flights from Mumbai to Hong Kong as it withdraws stopover flights from the finance city to Hong Kong via Bangkok. The network carrier said 75% of its passenger carriage is transit passengers mainly to China and the west coast of US.
Charlie Stewart - Cox, its newly appointed general manager for South East Asia, Middle East and Africa based out of Mumbai said that in the current downturn India as a market is still robust and is one of the few economies that are growing.
"For Cathay 2013 will be a good year in India as we have increased flights in this market last year by adding eight percent more capacity compared to 2011 and we will continue to seek growth opportunities and add more products in this market, " Cox said.
Cathay is betting big on its premium economy cabin as this new product which Cathay says it is the only airline to offer from the Indian market is slated to push the yields up by 30% for the airline. The product offers separate noiseless cabin for travellers, more leg space and bigger seats with rebooted entertainment system.
The premium economy class according to Cathay's regional sales and marketing manager for South Asia, Rakesh Raikar, will push the aspiring and young Indian travellers to an upgrade from economy to the premium economy cabin. The airline said its front sets are getting filled up to 50%-60% and generally flights are 80% full.
Cathay along with its sister airline Dragonair flies 46 weekly flights from six ports in India. It recently added Hyderabad in its network with four weekly flights.
Tata Projects, Aldesa bag Rs 3,300-cr freight corridor project
New Delhi: A consortium of Tata Projects and Spanish firm Aldesa has bagged a Rs 3,300 crore civil works contract to build a rail track between Bhaupur and Khurja in Uttar Pradesh, a 343-km segment of the dedicated eastern freight corridor.
“Physical work is expected to start from March-April. A letter of intent has been issued for the project,” said Dedicated Freight Corridor Corporation Ltd Managing Director, R. K. Gupta.
The consortium beat nine bidders for the project. The letter of intent was issued on Thursday, and the project is funded by the World Bank.
Those in race for the project were: CRFG-Soma, OHL-Punj Lloyd, KEC-Remput-Simplex, Essar-Patel-BSCPL, San Jose-ECI, STS-Era, IVRCL-KMB, Navyug-SEW and Gammon-CMC.
The 343-km project was sliced into three subsets, and the bidders had been qualified to bid for one, two or all three. In the bids, the consortia have offered various levels of discount, depending on the size of projects they get.
Seven consortia of the above bidders were qualified to bid for all the three packages. It will take some time for the Dedicated Freight Corridor Corporation of India, a special purpose vehicle set up under the Ministry of Railways, to evaluate the lowest bidder, as the bids are submitted in multiple combinations.
“Physical work is expected to start from March-April. A letter of intent has been issued for the project,” said Dedicated Freight Corridor Corporation Ltd Managing Director, R. K. Gupta.
The consortium beat nine bidders for the project. The letter of intent was issued on Thursday, and the project is funded by the World Bank.
Those in race for the project were: CRFG-Soma, OHL-Punj Lloyd, KEC-Remput-Simplex, Essar-Patel-BSCPL, San Jose-ECI, STS-Era, IVRCL-KMB, Navyug-SEW and Gammon-CMC.
The 343-km project was sliced into three subsets, and the bidders had been qualified to bid for one, two or all three. In the bids, the consortia have offered various levels of discount, depending on the size of projects they get.
Seven consortia of the above bidders were qualified to bid for all the three packages. It will take some time for the Dedicated Freight Corridor Corporation of India, a special purpose vehicle set up under the Ministry of Railways, to evaluate the lowest bidder, as the bids are submitted in multiple combinations.
1 Foodgrain Godowns to be Constructed in Assam
New Delhi: The Centre has proposed to construct 11 new food grains godowns at different locations in the state of Assam to strengthen Public Distribution System. Besides this additional storage capacity will also be crated at three existing locations in the state. These godown to be constructed or expanded by the Food Corporation of India (FCI), will add food grain storage capacity of 3,47,000 MT in the state of Assam. Out of this a capacity of 7000 MT will be created within the three existing complexes of FCI in the state.
Location wise details of capacity to be created is as follows:
S.NO. NAME OF LOCATION CAPACITY IN MT
1 Changsari Ph. I & II (50,000 MT in each phase) 1,00,000
2 Nowgaon Ph. I & II (with siding)(25,000 MT in each phase) 50,000
3 Dibrugarh (with siding) 25,000
4 Barpeta Road ( with siding) 25,000
5 Karimganj 5,000
6 Fakiragram 5,000
7 Tezpur Bindukuri/(with siding)\ 25,000
8 Salchapara (with siding) 25,000
9 Kokrajhar (with siding) 30,000
10 Bongoigaon (with siding) 25,000
11 Junai (with siding) 25,000
12 Hojai 2,500(within existing complex)
13 New Lakhimpur 2,500(within existing complex)
14 Jogigopa 2,000(within existing complex)
Total 3,47,000
Location wise details of capacity to be created is as follows:
S.NO. NAME OF LOCATION CAPACITY IN MT
1 Changsari Ph. I & II (50,000 MT in each phase) 1,00,000
2 Nowgaon Ph. I & II (with siding)(25,000 MT in each phase) 50,000
3 Dibrugarh (with siding) 25,000
4 Barpeta Road ( with siding) 25,000
5 Karimganj 5,000
6 Fakiragram 5,000
7 Tezpur Bindukuri/(with siding)\ 25,000
8 Salchapara (with siding) 25,000
9 Kokrajhar (with siding) 30,000
10 Bongoigaon (with siding) 25,000
11 Junai (with siding) 25,000
12 Hojai 2,500(within existing complex)
13 New Lakhimpur 2,500(within existing complex)
14 Jogigopa 2,000(within existing complex)
Total 3,47,000
RBI raises FII limit in govt, corp bonds by $5 bn each
Mumbai: To attract foreign funds into the bond market, the Reserve Bank of India ( RBI) on Thursday raised the ceiling for foreign institutional investors (FII)’s holdings in government securities and corporate bonds by $5 billion each. The cap on domestic debt now stands at $75 billion.
Bond dealers and treasury executives said the interest of FIIs had been robust. The additional capital flows would help tackle the high current account deficit, which stood at a record 5.4 per cent of the gross domestic product in the quarter ended September.
The three-year lock-in period for FIIs purchasing government securities (G-secs) for the first time has been done away with, RBI said.
The sub-limit of $10 billion for investment by FIIs in G-secs was enhanced by $5 billion, it added, while the cap on corporate debt other than in the infrastructure sector was raised from $20 billion to $25 billion.
With rises of $5 billion in each of the two categories, FIIs and long-term investors can now invest $25 billion in G-secs and $50 billion in corporate debt instruments, including the sub-limit of $25 billion for infra bonds.
RBI said though the residual maturity condition would not be applicable on the entire sub-limit (in G-secs) of $15 billion, such investments would not be allowed in short-term papers such as treasury bills.
The overall FII limit for domestic debt is distributed through a host of categories across government, corporate and infrastructure debt. Long-term investors include sovereign wealth funds, multilateral agencies, pension funds and foreign central banks.
Bond dealers and treasury executives said the interest of FIIs had been robust. The additional capital flows would help tackle the high current account deficit, which stood at a record 5.4 per cent of the gross domestic product in the quarter ended September.
The three-year lock-in period for FIIs purchasing government securities (G-secs) for the first time has been done away with, RBI said.
The sub-limit of $10 billion for investment by FIIs in G-secs was enhanced by $5 billion, it added, while the cap on corporate debt other than in the infrastructure sector was raised from $20 billion to $25 billion.
With rises of $5 billion in each of the two categories, FIIs and long-term investors can now invest $25 billion in G-secs and $50 billion in corporate debt instruments, including the sub-limit of $25 billion for infra bonds.
RBI said though the residual maturity condition would not be applicable on the entire sub-limit (in G-secs) of $15 billion, such investments would not be allowed in short-term papers such as treasury bills.
The overall FII limit for domestic debt is distributed through a host of categories across government, corporate and infrastructure debt. Long-term investors include sovereign wealth funds, multilateral agencies, pension funds and foreign central banks.
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