5,465 Crore ($830 Million) Ramagundam Fertilizer Plant Gets Green Nod

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Hyderabad: A committee under the ministry of environment and forests (MoEF) has given environmental clearance for the proposed Rs5,465-crore fertiliser plant in Ramagundam, Telangana. 

 

National Fertilizers Limited (NFL), Engineers India Limited (EIL) and Fertilizer Corporation of India (FCIL) had earlier signed an agreement to form a joint venture company (JVC) for setting up two new -- Ammonia and Urea -- plants at the existing site of Ramagundam Fertilizer plant. 

 

The JV formed a new company called Ramagundam Fertilizers and Chemicals Limited. “After detailed deliberations, the committee recommended the project for environmental clearance and recommended the following specific conditions along with other environmental conditions while considering for accord of environmental clearance,” the Expert Appraisal Committee said in the minutes of meeting held last month. 

 

The gas-based plant which will have the capacity to produce 1.1 million tonnes of urea per annum is expected to commission in 2018-19, a senior official of Telangana Government said. “The Centre has asked to the state Government to pick up some sate in the unit. Currently the proposal is with Finance Department and a decision in this regard will be taken after a series of meetings,” the official told PTI. 

 

“The Union government has also asked to pass all the benefits to the plant under the new industrial policy of the State,” he added. The plant which has become defunct for the past decade was originally established a coal-based plant. Subsequently, the plant could not survive due to shortage of raw material such as Phosphate.

 

http://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/ramagundam-urea-plant-gets-green-nod-from-moef-committee/articleshow/49090118.cms

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in another news, Siemens wind power open their 250 crore R&D center in Hyderabad

 

Hyderabad: Siemens Wind Power, a turbine division of Siemens AG, signed a five-year contract with engineering services provider Axiscades Engineering Technologies Ltd to set up an offshore development centre (ODC) to design wind turbines and provide design support to production and research teams of Siemens working out of Denmark, Germany and the US.

The ODC will start with 50 engineers and will be scaled to 300 over the next 3-5 years. “It is in line with Siemens strategy to maintain a global footprint of partners in engineering,” said Steen Kirkegaard Jensen, head of mechanical design at Siemens in a statement on Thursday.

“We are confident that Axiscades is a competent partner with whom we can develop and grow with, and also leverage from their vast experience from working with other global industrial players,” he said.

Axiscades provides engineering services to customers such as Caterpillar Inc. and Airbus Group SE in heavy engineering, automotive, aerpsace and defence, energy and semiconductor sectors.

“With the wind turbine market eyeing rapid growth over the next few years on the back of policy-driven installations across Europe and North America, it has become imperative for manufacturers to build a competitive advantage through optimised costs and better technical value proposition,” Sudhakar Gande, vice chairman of Axiscades said.

Siemens Wind Power is the market leader in offshore wind power technology and services, and has installed 16,000 wind turbines with a total capacity of 30 GW globally. 

Axiscades Engineering stock rose 3.07% to Rs.271.60 on BSE on Thursday on a day the benchmark Sensex rose 0.16% to 25,863.50 points.

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China New Era Group to invest $400-million in Transstroy India

 

HYDERABAD:  

Transstroy India Ltd, the Hyderabad-based infra company, has secured a $400-million equity-linked investment from China New Era Group Corporation (CNEGC).

Terming it as one of the first FDI investments in the road sector for an infra company, Sridhar Cherukuri, Chairman & Managing Director of Transstroy told BusinessLine that, the first tranche of $100 million has already been released.

In the next two months the necessary due diligence will be completed and the deal sealed with the additional $300 million to be invested.

“This is a Government of China investment and will focus on infra projects in the road sector where CNEGC has expertise. It is the first equity investment deal at corporate level between a major Chinese state-owned enterprise and an Indian infrastructure company,” he said, while declining to reveal the quantum of dilution of equity in Transstroy.

A formal agreement was signed in Beijing recently between Sridhar Cherukuri and Liu Guozhen, Deputy General Manager and President, CNEGC. The two companies are already engaged in EPC co-operation for road projects and are taking their relationship to next level with strategic FDI at corporate level.

Transstroy logged a turnover of ₹5,120 crore and has an order book of ₹22,000 crore.

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