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The <keyword id="6396354" type="General" weightage="20" keywordseo="National-Company-Law-Appellate-Tribunal" source="Orion">National Company Law Appellate Tribunal</keyword> (<keyword id="6396355" type="General" weightage="20" keywordseo="NCLAT" source="Orion">NCLAT</keyword>) has approved the Resolution Plan submitted by <keyword id="47654" type="General" weightage="20" keywordseo="ArcelorMittal" source="Orion">ArcelorMittal</keyword> for the corporate <keyword id="5980144" type="General" weightage="20" keywordseo="insolvency-resolution-process" source="Orion">insolvency resolution process</keyword> of <keyword id="6327485" type="General" weightage="20" keywordseo="Odisha-Slurry-Pipeline-Infrastructure" source="Orion">Odisha Slurry Pipeline Infrastructure</keyword> Limited. Giving a major relief to the world's leading steel company, a Bench comprising HMJ Jarat Kumar Jain (Member Judicial) and Kanthi Narahari (Member Technical) of the National Company Law Appellate Tribunal, New Delhi on Tuesday dismissed the various appeals challenging the approval of the Resolution Plan filed by ArcelorMittal for the corporate insolvency <keyword id="6399250" type="General" weightage="20" keywordseo="resolution-process" source="Orion">resolution process</keyword> of Odisha Slurry Pipeline Infrastructure Limited. Earlier, the Ld Adjudicating Authority, Cuttack on March 2, 2020, approved the resolution plan of ArcelorMittal India Private Limited pursuant to the unanimous approval by the Committee of creditors in respect thereof and rejected all the objections raised in this regard by the various stakeholders/creditors. Senior Advocates Harish N. Salve and Neeraj Kishan Kaul appeared and argued on behalf of ArcelorMittal Group. The ArcelorMittal Group was advised and represented by a legal team comprising Ruby Singh Ahuja, Vishal Gehrana, Ashutosh Shukla and Varun Khanna from Karanjawala &amp; Company, Sudhir Sharma and Naman Bagga from L&amp;L Partners and Ashim Sood, Advocate. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/union-defence-budget-2022-submarines-drones-warships-and-aircraft-carriers/articleshow/88989045.cms">This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ags-transact-technologies-ipo-cash-management-firm-looking-to-halve-its-debt-with-ipo-money/articleshow/88987025.cms">AGS Transact is a cash management firm looking to halve its debt with IPO money</a>

NCLAT approves resolution plan for Odisha Slurry Pipeline Infra

New Delhi, Mar 3 () The National Company Law Tribunal (NCLT) has approved a Rs 2,359-crore bid of ArcelorMittal India for debt-ridden Odisha Slurry Pipeline Infrastructure Ltd (OSPIL). A two-member bench of the NCLT Cuttack gave a go ahead to the resolution plan of ArcelorMittal India, which had been approved by the Committee of Creditors (CoC) of OSPIL. The tribunal observed that the plan provides repayment of the principal dues to all financial creditors of OSPIL, which is indeed "fair and equitable" and has taken care of the interests of all stakeholders. "The Resolution Plan submitted by ArcelorMittal India, the Resolution Applicant, approved by 100 per cent of voting in the 8th Committee of Creditor's Meeting held on December 6, 2019 is approved as per Section 31 (l) of the Insolvency and Bankruptcy Code," said NCLT. The two-member bench, which comprised Satya Ranjan Prasad and Sucharitha R also said that the order would be "binding on employees, members, creditors" and other stakeholders. OSPIL owns and operates a 253-km pipeline that connects iron ore mines in Dabuna, Odisha, to a pelletisation plant in Paradip. It connects ArcelorMittal Nippon Steel India (formerly Essar Steel) iron ore beneficiation plant in Dabuna to its pellet plant in Paradip in the state of Odisha. Commenting on the development, an ArcelorMittal spokesperson in a statement said: "We welcome today's judgment by NCLT Cuttack approving our resolution plan for the Odisha Slurry Pipeline Infrastructure Ltd (OSPIL), having previously secured unanimous approval from the Committee of Creditors for OSPIL. "Following today's approval by NCLT, we now look forward to completing the formalities that will see ownership of the asset transferred to AM/NS India," it added. The Resolution Professional of OSPIL had shortlisted two resolution plans by -- ArcelorMittal India and Thriveni Earthmovers. However, the Committee of Creditors opted in favour of ArcelorMittal India with 100 per cent voting. Thriveni Earthmovers had challenged its rejection before the NCLT but it withdrew its plea on February 24, 2020. The NCLT has on May 14, 2019 had directed to initiate corporate insolvency resolution process against OSPIL. KRH MR

NCLT approves ArcelorMittal's Rs 2,360 cr bid for Odisha Slurry Pipeline

New Delhi, Feb 28 () The central government is working on strengthening the steel ecosystem in Odisha whose steel production is set to cross 100 million tonnes per annum by 2030, Union minister Dharmendra Pradhan has said. "Today Odisha is the highest steel producing state in the country. We are working to strengthen the steel ecosystem in Odisha. By 2030, Odisha's steel production alone is set to cross 100 MTPA. Odisha is going to be the nerve centre of Mission Purvodaya in steel," Steel Minister Dharmendra Pradhan was quoted as saying in a statement. Kalinganagar, he said, will be the hub of the clusterisation programme involving entire eastern India. "Moving beyond just producing primary steel, we will create an ecosystem of ancilliary, value added products, capital goods with industry participation," he added. The minister was speaking during a workshop in Bhubaneswar, the steel ministry said. Pradhan said that with Japan as the partner country, the government was looking forward to make Odisha, the nerve centre of Purvodaya in steel sector. Prime Minister Narendra Modi has given a clarion call for Mission Purvodaya, that is Eastern India driving the national growth and propelling India towards becoming a USD 5 trillion economy. "We are organising series of workshops to deliberate on how to increase steel usage in India. We have rightly chosen Japan as our partner country who will guide us for making Indian steel ecosystem bigger both in qualitative and quantitative terms," the minister said. "Today, $5 billion infrastructure spending is being done only in Odisha in developing railways, roads, airports, pipelines, bridges etc. We have achieved 100 per cent electrification in Odisha. Eight crore new LPG connections have been given to the poorest of the poor. We have an ambitious plan to build next generation infra and boost economic growth," he said. SID MR

Odisha steel output set to cross 100 MTPA by 2030: Steel Minister

This week, the <keyword id="6377129" type="General" weightage="50" keywordseo="government-of-india" source="Orion">Government of India</keyword> <a href="https://www.businessinsider.in/sustainability/news/lok-sabha-approves-energy-conservation-bill-to-accelerate-climate-action-opens-multi-billion-dollar-carbon-market/articleshow/93479684.cms">passed a bill in parliament</a> seeking to mandate the use of non-fossil energy sources, including <keyword id="568811" type="General" weightage="80" keywordseo="biomass" source="Orion">biomass</keyword>, ethanol, and green hydrogen. This is the need of the hour to address the growing global climate crisis fuelled by fossil fuels. August 10 also marks World <keyword id="53632" type="General" weightage="100" keywordseo="biofuel" source="Orion">Biofuel</keyword> Day in memory of Sir <keyword id="9565902" type="General" weightage="50" keywordseo="rudolf-diesel" source="Orion">Rudolf Diesel</keyword>, inventor of the diesel engine. He is said to have operated the first mechanical engine with peanut oil. Broadly biofuels or non-fossil fuels are a low-cost, renewable alternative to fossil fuels. Biofuel is a wide term that encompasses biomass-derived solid, liquid, and gas fuels (e.g., bio-coal, methanol, ethanol, biodiesel, bio-oil, hydrogen, and methane). Since biomass can be replenished easily, biofuels are considered renewable. While they can be used as a standalone fuel source, they can easily blend with petroleum fuels and thereafter be used in a variety of blending ratios without any change in existing infrastructure. These advantages of biofuels contribute to their fast acceptance! But, there’s a challenge; their production primarily relies on food crops, and unscientific approaches to producing excessive biofuels can drive deforestation, as documented in Brazil. The phrase "conventional biofuels" refers to these biofuels. To tackle these threats, there’s a heightened focus on ‘Advanced Biofuels’, i.e., biofuels derived from lignocellulosic (refers to plant dry matter) biomass. These are being explored as a possible replacement for conventional biofuels. Lignocellulosic biomass is not used as food and is abundant, thereby reducing the risk posed by conventional biofuels to food security and the environment. The use of advanced biofuels in transportation is predicted to reduce carbon emissions as it reinforces the natural carbon cycle, which implies that the carbon emitted during burning is retrieved during photosynthesis. Biofuels answer the twin problems in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, where, as per the Government of India, over 350 million tonnes of agricultural waste is generated every year. This waste is generally burnt and can lead to an immense air pollution load. With the current technologies, this can be utilised to reduce the quantity of oil imported by converting the waste to biofuels. As per government estimates, this waste can generate up to 18 GW of power in addition to generating green fertilisers. But the possibility that conventional biofuels could threaten food security has caused many governments to set strict rules about how biofuels can be made. Drop-in biofuels are liquid hydrocarbons generated from biomass that fulfil the standards for current petroleum distillate fuel, for example, ASTM D4814, and are ready to "drop in" to the existing fuel supply and consumption infrastructure. Bio-butanol, liquefied biomass, sugar hydrocarbons, and syngas complexes are all examples of drop-in biofuel options. Biofuels also carry a few misconceptions, such as cellulosic biofuels will always be far from getting commercialized; biofuels can only exist with significant subsidies; the world's ability to produce food would be drastically reduced to meet biofuel regulations, resulting in both a spike in global prices and food riots; instead of reducing carbon emissions, biofuels increase them; biofuels are energy negative, i.e., they consume more energy in getting produced than what they give. None of these is true in the real sense if we adhere to scientifically proven methods of efficient biofuel production. India can generate its energy, cooking and vehicle fuel, and organic fertilizer from locally available biomass wastes using anaerobic digestion in biogas or CBG plants. All kinds of biomass, except wood, can theoretically produce biogas, although biogas production's efficiency depends on the biomass's digestibility. This will enable scientific management of the waste available and help India meet the global target of <keyword id="171507" type="General" weightage="50" keywordseo="ghg" source="Orion">GHG</keyword> emission reduction. When sent to landfills, the organic fraction of municipal solid waste (MSW) would emit methane, which has close to 21 times the global warming potential compared to carbon dioxide. Using biogas plants to deal with organic waste would also keep it from getting into groundwater aquifers and surface water bodies. It's important to know that large-scale use of dig estate from CBG plants can stop soil from getting worse. Biomass generated from agriculture is abundant in various bioactive and nutraceutical substances, including dietary fibre, carotenoids, and polyphenols, among others. This biomass is rich in roughage, and with the addition of requisite nutrients, it is a prospective answer to becoming rich animal fodder. Solid substrate fermentation, ensiling, and high solid or slurry procedures are among the technologies that can enrich agriculture biomass from a fodder perspective. Bio hydrogen is the cleanest energy source as it procures only water vapour and can effectively decarbonise transport, power production, and industrial operations. Compressed Biogas is also carbon neutral and a cleaner fuel as it is sustainable, renewable, and easily transportable through gas pipelines or cylinder cascades. Efforts of the government in India to promote biogas and other biofuels will help meet the stated sustainability goals and the country's energy security. A plus point with compressed biogas is that there are no environmental side effects associated with the biogas plants. The effluent/plant discharge is also recognised as fermented organic manure and can help improve soil health by raising organic matter content. However, if a biogas plant is not designed properly and methane gets leaked into the atmosphere, it can potentially harm the environment from a greenhouse perspective. Proper engineering followed by PESO's (Petroleum and Explosives Safety Organization) norms can derisk it. Space constraints may make it unprofitable in densely populated areas, but modern designs allow for such issues to be addressed. India today generates over 550 million tonnes of biowaste, which can be converted to biogas or biofuels and used to meet part of its energy requirements. Given the unpredictability of oil imports and high costs, the Indian government aims to achieve the target of 20% blending of biofuels with fossil fuels over the next five years. Government regulations and policy enforcement are crucial to reducing fuel imports and meeting carbon emission targets. Gaurav Kedia is the Chairman of the Indian Biogas Association This column is part of a year-long (2022-23) campaign on the theme “ Only One Earth: Sustaining People, Planet and Prosperity” by Business Insider India’s <a target="_blank" class="c-link" href="https://www.businessinsider.in/sustainability">Sustainability Insider</a>. Disclaimer: The opinions expressed by the author/interviewee do not necessarily reflect the views of Business Insider India. The article has been partly edited for length and clarity

OPINION: World Biofuel Day — Can biofuel help sustainably meet the growing energy needs of India?

India's top gas company <keyword id="6358765" type="General" weightage="20" keywordseo="GAIL" source="Orion">GAIL</keyword> will foray into hydrogen generation and take the acquisition route to scale up its <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> portfolio as it pivots business beyond natural gas to align with energy transition being witnessed across the globe. As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centres to gas sources while also augmenting its renewable energy portfolio, GAIL Chairman and Managing Director <keyword id="6516738" type="General" weightage="20" keywordseo="Manoj-Jain" source="Orion">Manoj Jain</keyword> said. "The global energy sector is witnessing a paradigm shift in recent years as the world is transitioning to a sustainable energy future," he said in the company's latest annual report. To accomplish a cleaner primary energy mix for India, the government is emphasizing the expansion of the natural gas sector so as to achieve a gas-based economy along with growth in renewables. GAIL as a leading integrated energy major has aligned with this vision, he said. The firm is laying around 6,000-kilometres of pipeline, including a west coast to east coast pipeline from Mumbai to Jharsuduga in Odisha via Nagpur, he said. It currently has around 13,700-km of natural gas pipeline network. GAIL "will be selectively investing in the renewable energy domain given the future growth potential," he said. The company "has been scouting for opportunities to scale up the RE portfolio from the current 130 MW through bidding and other inorganic routes such as mergers and acquisitions." "In addition, the company is also foraying into ethanol and hydrogen generation," he said without giving details. Hydrogen is a clean fuel that, when consumed in a fuel cell, produces only water. Many countries are venturing into hydrogen production from a variety of domestic resources, such as natural gas, nuclear power, biomass, and renewable power like solar and wind. In India, companies ranging from Reliance Industries to <keyword id="6356834" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="Orion">Indian Oil Corporation</keyword> and <keyword id="45179" type="General" weightage="20" keywordseo="NTPC" source="Orion">NTPC</keyword> have announced ambitious plans for generating hydrogen. GAIL too joins that list now. GAIL, Jain said, has the largest and most diverse LNG portfolio in India that can offer both stable prices and reliable supply to consumers. The company "shall be pushing for higher gas usage in the industrial segment, transport segment using CNG and LNG, Trigeneration, cold storage, etc," he said, adding the firm was looking for avenues to supply gas in the new segments like LNG trucking (LNG for long-haul transportation). He said GAIL is also looking to expand its presence in petrochemicals and also diversifying into high-margin downstream businesses. "The focus is on having polypropylene (PP) production capacity through setting up two polypropylene units (Propane Dehydrogenation Polypropylene Plant - PDHPP in Usar, Maharashtra and PP plant at Pata, Uttar Pradesh) and assessing opportunities in certain speciality chemicals in India," he said. GAIL presently has a 1.6 million tonnes per annum polyethylene and PP production capacity. It is also setting up at least two compressed biogas plants and an ethanol factory. India, which imports 85 per cent of its crude oil needs, is stepping up efforts to explore new forms of energy to clean up the skies and reduce dependence on imported fuels. "We have 120 MW of renewable energy capacity which we want to scale up to 1GW in next 3-4 years," Jain had told PTI last month. GAIL will bid for a 400 MW solar power capacity being auctioned by SECI (formerly <keyword id="1937268" type="General" weightage="20" keywordseo="Solar-Energy-Corporation-of-India" source="Orion">Solar Energy Corporation of India</keyword>) in Rewa, Madhya Pradesh. The company had in 2019 won a bid for 874 MW operational wind power projects of IL&amp;FS for Rs 4,800 crore. But IL&amp;FS' other partners used the first right of refusal to block GAIL's bid, he had said. GAIL has signed up with state-run power gear maker BHEL for its renewable energy foray. The tie-up looks to leverage the competitive strengths of both companies. GAIL will be the project developer and BHEL will be a project manager and EPC (engineering, procurement and construction) contractor. The move by GAIL, which commands a 75 per cent market share in gas transmission and more than 50 per cent share in gas trading in India, is seen as part of the government's vision to prepare for the energy transition process, under which the share of gas in the energy mix is sought to be raised to 15 per cent by 2030, from the current 6.2 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/timeless-investing-lessons-from-legends-warren-buffett-peter-lynch-and-john-bogle/articleshow/85503124.cms">Timeless investing lessons from legends Warren Buffett, Peter Lynch and John Bogle</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cardano-is-hitting-new-high-as-investors-are-confident-about-its-upcoming-smart-contract-system-alonzo/articleshow/85486235.cms">Cardano overtakes Binance Coin to become the third largest cryptocurrency — here’s what’s driving the rally</a>

GAIL scouts for acquisition to augment renewable portfolio, to foray into hydrogen

New Delhi, Feb 24 () GAIL India Ltd, the country's largest gas utility, will invest Rs 1.05 lakh crore over the next five years to expand pipelines, lay city gas distribution network and raise petrochemical production capacity, its new chairman and managing director Manoj Jain said on Monday.Gas pipelines are planned to take the fuel to the east and northeast regions as well as to consumers in the south as part of the government push to raise the share of natural gas in India's energy basket to 15 per cent by 2030 from the current 6.2 per cent, he said."We have planned a capex of Rs 45,000 to Rs 50,000 crore in laying pipelines, Rs 10,000 crore petrochemical capacity expansion and another Rs 40,000 crore for city gas distribution (CGD) business," he told reporters here.GAIL's push for infrastructure creation is in line with Prime Minister Narendra Modi's vision of creating a gas-based economy that is less reliant on polluting fuels for meeting its energy needs.India currently consumes some 160 million standard cubic meters of gas per day and the consumption has to rise to 600 mmscmd to reach 15 per cent share in the energy mix, and GAIL is laying the infrastructure to help achieve that.At present, GAIL operates 12,160-km of pipeline network and markets two-thirds of all-natural gas sold in the country. It will add about 7,000 km of pipeline length in the next five years, Jain said.The company is scaling up on liquefied natural gas (LNG) import capacity. Besides owning a part of Petronet LNG Ltd, India's biggest liquid gas importer, it also owns and operates a 5 million tonnes LNG import facility at Dabhol in Maharashtra."We have awarded the contract for construction of a breakwater at Dabhol to L&amp;T and this should get completed in two-and-half-years. The completion will help operate the Dabhol terminal at its full capacity of 5 million tonnes per annum," he said.Currently, operations are restricted during monsoon months as high tide could damage ships carrying gas in its liquid form.Also, the company has booked capacity at Adani Group's upcoming terminal at Dhamra in Odisha, Jain noted.Domestic gas production meets just half of the country's demand and the rest has to be imported.Pipeline projects at hand include the ambitious Urja Ganga Project to take gas to Bihar, West Bengal, Odisha, and Jharkhand as well as Kochi-Kootanad-Bangalore-Mangalore line; and Indradhanush North East Gas Grid.Besides pipelines, GAIL is also expanding city gas distribution (CGD) networks for retailing of CNG to automobiles and piped natural gas to household kitchens, he said, adding investments are also planned for the expansion of Pata petrochemical plant in Uttar Pradesh as well as converting a LPG recovery unit at Usar in Maharashtra into 5,00,000 tonnes Polypropylene plant.GAIL is looking to put up 400 CNG stations and give out a record 10 lakh piped natural gas (PNG) connections to household kitchens in the next 3-5 years.The company is building a 2,655-km gas pipeline from Jagdishpur in Uttar Pradesh to Haldia in West Bengal, Bokaro in Jharkhand and Dhamra in Odisha. Jagdishpur-Haldia &amp; Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) project, also known as the 'Pradhan Mantri Urja Ganga' project, was inaugurated by the Prime Minister in July 2015.GAIL has commenced city gas operations in all the six geographical areas (GAs), including in Patna and Bhubaneshwar, that was awarded to it along the Urja Ganga route, Jain said.The pipeline will be extended to Guwahati by laying an additional 750-km line. At Guwahati, it would interconnect with the upcoming 1,500-km 'Indradhanush' pipeline network conceived to operate in the northeast region by the public sector oil and gas majors.GAIL will also lay a 600 km Srikakulam-Angul natural gas pipeline. ANZ BAL

GAIL to invest Rs 1.05 lakh cr to create infra for gas-based economy

New Delhi, Jan 22 () GAIL India Ltd, the country's largest gas utility, plans to invest over Rs 45,000 crore over the next five years to expand the National Gas Pipeline Grid and city gas distribution network to help push for greater use of environment-friendly fuel, its chairman Ashutosh Karnatak said.
The gas pipelines are planned to take the fuel to the east and northeast regions as well as to consumers in the south as part of the government push to raise the share of natural gas in India's energy basket to 15 per cent by 2030 from the current 6.2 per cent, he said.
GAIL's push for the creation of infrastructure is in line with Prime Minister Narendra Modi's vision of creating a gas-based economy that is less reliant on polluting fuels for meeting its energy needs.
"Before we transition to zero-emission technologies (for both automobiles and factories) say by 2040/2050, natural gas is best suited for tapering emissions from current levels," he said. "Natural gas is 'happy fuel' as it has a fraction of emissions compared to alternate liquid fuels such as diesel in automobiles and coal in power plants."
India currently consumes some 160 million standard cubic meters of gas per day and consumption has to rise to 400 mmscmd to reach 15 per cent share in the energy mix, he said, adding GAIL is playing its responsibility by creating the infrastructure for the same.
GAIL currently operates 12,160-km of pipeline network and markets two-thirds of all-natural gas sold in the country. It is currently executing more than 5,500 kilometers of pipeline projects and a similar length is at the planning stage.
Karnatak said the projects at hand include the ambitious Urja Ganga Project to take gas to Bihar, West Bengal, Odisha, and Jharkhand as well as Kochi-Kootanad-Bangalore-Mangalore line and the Indradhanush North East Gas Grid. "These pipelines will connect supply and demand centers envisaged under the National Gas Grid."
Besides pipelines, GAIL is also expanding city gas distribution (CGD) networks for retailing of CNG to automobiles and piped natural gas to household kitchens. Investments are also planned for the expansion of petrochemical plants.
GAIL is looking to put up 400 CNG stations and give out a record 10 lakh piped natural gas (PNG) connections to household kitchens in the next 3-5 years.
The company is building a 2,655-km gas pipeline from Jagdishpur in Uttar Pradesh to Haldia in West Bengal, Bokaro in Jharkhand and Dhamra in Odisha. "Pipeline up to Patna has already been commissioned and the rest of the project will be completed by end 2020," he said.
Jagdishpur-Haldia &amp; Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) project, also known as the 'Pradhan Mantri Urja Ganga' project, was inaugurated by the Prime Minister in July 2015. GAIL has commenced city gas operations in all the six geographical areas (GAs), including in Patna and Bhubaneshwar, that was awarded to it along the Urja Ganga route, he said.
The pipeline will be extended to Guwahati by laying an additional 750-km line. At Guwahati, it would interconnect with the upcoming 1,500-km 'Indradhanush' pipeline network conceived to operate in the northeast region by the public sector oil and gas majors.
GAIL will also lay a 600 km Srikakulam-Angul natural gas pipeline.
"Renewable power is set to grow to 227 GW by 2030 and gas has a complementary role in effectively addressing intermittency and supplying peaking load," Karnatak said, adding gas-based power generation can take over during the night or on not so sunny days in areas getting solar power and also supplement hydro and wind projects during downtime.
He said 20-22 GW of coal-fired power plants are obsolete and 25 GW of stranded gas power assets could be utilised to help meet the carbon emission objectives of India, he noted.
Gas can also be used as fuel in steel plants, oil refineries, industries, and transportation, he said, estimating that power sector alone would need 100 mmscmd of gas and 50-55 mmscmd each would go for city gas distribution and fertiliser plants. Steel plants and refineries can consume 70 mmscmd between them. ANZ BAL

GAIL to invest over Rs 45,000 cr to create infra for gas-based economy

New Delhi, Apr 21 () Indian Oil Corp and Bharat Petroleum Corp Ltd (BPCL) are among the state-owned oil PSUs which on Tuesday resumed work on select projects after the government allowed partial relaxation in the nationwide lockdown.In separate statements, Indian Oil Corp (IOC) and BPCL said they have resumed stalled activities on projects while maintaining strict cronovirus-related health and safety hygiene.State-owned oil firms have decided to resume as many as 511 projects involving over Rs 42,000 crore of investment with immediate effect. These projects are either in rural areas or have in situ labour for the resumption of work.The government had last week allowed makers of information technology hardware, farmers and industries in rural areas to resume operations as it looked to revive the economy that got stalled because of the outbreak of coronavirus pandemic.IOC said it is fully geared to ramp up operations towards normalcy for the post-lockdown scenario."At the same time, the Corporation is monitoring the situation on a continuous basis to ensure that the supply lines of essential petroleum products are maintained across the country, with all necessary safety protocols in place for its field force," it said.While global cues and the changing market scenario will guide its future strategy, IOC has already built up stocks of finished products, including petrochemicals, at its upcountry locations for future-readiness once the countrywide lockdown is lifted and the demand picks up again with resumption of economic activity.Its refineries continue to operate at optimised capacity utilisation to cater to the needs of households and essential/emergency services, the statement said."IndianOil has taken up resumption of work on 64 select projects with a combined allocation of about Rs 21,375 crore, of which work has commenced on 29 projects on April 20, 2020," it said.Major projects on which work has resumed include the Rs 3,338-crore Paradip-Hyderabad products pipeline, which traverses 1,212-km through Odisha, Andhra Pradesh and Telangana; Rs 3,028 crore augmentation of Paradip-Haldia-Durgapur LPG pipeline and its extension to Patna and Muzaffarpur, which traverses 678-km through Odisha, Jharkhand, West Bengal and Bihar; Rs 6,025 crore Ennore-Tiruvallur-Bangalore-Pondicherry-Nagapattinam-Madurai-Tuticorin R-LNG pipeline, which traverses 1,170-km through Tamil Nadu, Andhra Pradesh, Puducherry and Karnataka.Work has also restarted on other projects like grassroots LPG bottling plants, bulk storage terminals/depots, city gas distribution projects and additional facilities/tankage at existing locations, it added.Separately, BPCL said it has resumed 167 projects with all necessary COVID-19 protocols, involving over Rs 14,000 crore of investment."This effort will help in its own way in reviving the economy, apart from adding to the livelihood of more than 3,000 workers and their families during these difficult times. More than 6,000 workers would be progressively deployed on these projects," it said.Out of these 167 projects, 84 projects are outside the municipal limits, while 83 projects are within municipal limits but have engaged residential workforce. These projects are spread over the entire value chain of the company - refineries, E&amp;P, marketing infrastructure, pipelines, city gas distribution network and new fuel stations.BPCL said it is likely to restart another 88 stalled projects with an estimated investment of Rs 23,210 crores in next few days, mainly in Kochi Refinery in Kerala and their City Gas Distribution network in various geographical areas, which will provide employment to another 3,600-plus. ANZ BALBAL

IOC, BPCL resume work on select projects, gear up to ramp up operations post-lockdown

New Delhi, Jan 11 () <keyword id="532833" type="POSITION" weightage="20" keywordseo="Union-steel-minister">Union Steel Minister</keyword> <keyword id="197418" type="PERSON" weightage="20" keywordseo="Dharmendra-Pradhan">Dharmendra Pradhan</keyword> on Saturday launched 'Mission Purvodaya' which aims at accelerated development of eastern India through integrated steel hub. The eastern belt has the potential to add more than 75 per cent of the country's incremental steel capacity envisioned by the National Steel Policy, he said adding it is expected that out of the 300 million tonne capacity by 2030-31, over 200 million tonne can come from this region alone. The mission will drive India's march towards USD 5 trillion economy set by the government, the minister said at a launch event in Kolkata, according to an official statement.
 Stating that eastern India is a land of infinite opportunities, Pradhan said, "Despite being endowed with natural resources, this region has lagged behind in socio-economic development as compared to some other parts of the country."
 With the Mission Purvodaya in the steel sector, he said a new chapter will script the rise of eastern India by accelerated development of steel sector through an integrated steel hub.
 Under the mission, the government said it will enhance capacity through easing the setup of greenfield steel plants, develop steel clusters near integrated steel plants as well as demand centres.
 Besides, the government aims to transform logistics and utilities infrastructure which would change the socio-economic landscape in the eastern India The steps under mission also include growth of steel industry along with employment opportunities across the entire value chain.
 Eastern India, Pradhan said is a focus area for the government and about half of aspirational districts are in this region which are becoming hotspots of socio-economic development.
 He also mentioned that eastern states of India (Odisha, Jharkhand, Chhattisgarh, West Bengal) and Northern part of Andhra Pradesh collectively hold 80 per cent of the country's iron ore, 100 per cent of coking coal and significant portion of chromite, bauxite and dolomite reserves.
 Besides, major ports like Paradip, Haldia, Vizag and Kolkata which are present in this region have more than 30 per cent of India's major port capacity.
 Since eastern India holds a special focus, the government has taken several measures including a Rs 102 lakh crore worth of National Infrastructure Pipeline, the statement added. ABI MKJ

You Searched For "Odisha Slurry Pipeline Infrastructure" and got 9 results

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