• Essar Ports has registered a 29% growth in cargo volumes in the first two months of FY20 (April-May 2019), with a quantity of 9.2 million tonnes. Essar Ports operates four terminals on the east and west coasts of India. The current operational capacity of the port terminals in India is 110 MTPA.
  • According to a company statement, the growth has been driven by a 131% increase in third-party cargo when compared to the same period in the previous financial year. Cargo volumes from captive customers also grew by 11%.
  • The overall cargo handled in (April-May 2019) was 9.2 MT over 7.2 MT in (April-May 2018), while captive cargo was 6.7 MT (6.1 MT), and third party cargo stood at 2.5 MT (1.1 MT).
  • In May 2019, the four terminals cumulatively handled about 4.8 MT of cargo compared to nearly 3.6 MT in May 2018, a growth of 34%.
  • Coal India Ltd is looking at acquiring a mine in Australia and will soon appoint a merchant banker to handle the transaction. The PSU board will finalise the terms of the Notice Inviting Tender (NIT) on June 19,
  • Currently, CIL is not able to meet the entire demand for coking coal from local steel makers from its own mines and resorts to imports.
  • CIL has opened an office in Brisbane and created a war treasure of Rs 6,000 crore.
  • In October 2018, CIL had considered to acquire 20-30% stake in Australian coal asset. While no deal has happened since, it is now open to acquiring an entire mine.Australia would be CIL’s second overseas venture after Mozambique, where it has got permission to explore coal reserves.

    It has created Coal India Africana Limited.

  • CIL produced 607 million tonne of coal in FY19.  As coking coal production was not enough to meet the demand of the domestic steel plants, CIL imported 47.73 million tonne of coking coal in FY19 and had to supply to the steel plants at international prices.Owning mines or holding stake and off-take rights in foreign mines would enable the company to supply coking coal to the steel plants at a price below the benchmark international prices, as per the official.
  • India could review the goods and services tax (GST) structure to further crop the number of items in the highest slab of 28% as it attempts to stave off a slump in demand.
  • Some states are favouring a reduction in tax rates since they are worried that the slowdown may get entrenched.
  • The GST Council may meet on June 20, ahead of the budget presentation on July 5, and these issues could figure in the discussions. The meeting of the council to be chaired by Nirmala Sitharaman, union finance minister.
  • According to the sources, the National Highways Authority of India (NHAI), in need of funds to repay debt and build new highways, will soon invite requests for proposal (RFPs) for two TOT tranches, measuring a total of 970 km, hoping to garner at least Rs 9,000 crore through this model in FY20.
  • For the first time in October 2017, NHAI had invited bids for such public-funded highway projects.In the first tranche, nine highway projects were offered and Australia-based Macquarie bagged them quoting Rs 9,681.5 crore for the total length of 680.5 km against the floor price of Rs 6,258 crore.

    NHAI’s second TOT attempt, however, failed.

  • Even if NHAI had to abort the second round of auction under the toll-operate-transfer (TOT) model due to lack of investor interest, it still plans to monetise its operational projects.
  • UltraTech has got environment ministry’s nod for a Rs 2,500 crore project in Andhra Pradesh, as per an official document. UltraTech Cement is the cement producer in India with a capacity of 68 million tonne per annum.
  • Under the project, the company will set up an integrated cement plant at Petnikote village in Kurnool district with a clinker capacity of 4 million tonne per annum, 6 million tonne per annum of cement, 60 mega watt of captive power plant and 15 mega watt of waste heat recovery-based power unit.
  • The company has already acquired 431.92 hectare land for the project , which is estimated to cost Rs 2,500 crore and will generate employment for 900 persons, the document showed.
  • As per Mr HM Bangur, MD, Shree Cement, future demand of cement is likely to grow 1% up or down, at a similar pace with the GDP growth of 7% to 7.5%.
  • Monsoon will not impact the demand.
  • The industry is at least three years ahead and the project capacity can serve demand even after two years with 15% growth or so. There will not be any shortage of cement in the country
  • Cement sector is totally dependent on major economic growth
  • The cement price in the year will not be going up more than 3% to 4% maximum compared to last year.
  • Indian cement prices are low compared to world prices.
  • Shree Cement is running the new plant in south India at a very low capacity at present, building their brand and significant capacity will be added by the end of the year depending on the market scenario. Capacity utilisation is expected to become better.
  • Presently, the total capacity of Shree Cement is around 45 million tonnes and is likely to reach 50 million tonnes in next two years and the utilisation will be at 70% or so.
  • The company has introduced two new brands of premium brands and the response is good.
  • The focus of the company is to maintain the cost and improving the quality, making the brand and market price go up.