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SEPT 2022 PROJECT CARGO UPDATE<br>
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Disclaimer,
The information contained in this market update is drawn from wide range of newspapers, business and trade magazines, government, company and industry association websites. While all possible care is taken to verify the correctness and authenticity of information contained in this compilation, no claim to independent authorship of articles is implied or intended. Readers are expected to make their own independent evaluation and verification of information for their use. While all information contained in this report are believed to be correct, the editors of this compilation or J. M. Baxi & Co. do not guarantee the quotes or other data and the same is provided only in good faith. TABLE OF CONTENT<br>
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PORT
ANALYSIS 3 Port Traffic of Project Cargo.
The port traffic of project cargo for the period of Apr- Aug 22 saw an increase of 33.45% at 436342.6MT as compared to that of the same period previous year.
The highest Project Cargo traffic was seen in Mumbai port at 206025 MT.<br>
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Major Country-wise Project Cargo Exports from India - February 2022 (Qty in Metric Tonnes) 5 NOTE: Above Statistics is drawn from data received from Port and Custom Authorities, while all information is believed to be correct, the editors of this compilation or J M Baxi do not guarantee the authenticity of data.<br>
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HIGHLIGHTS
Govt to plug duty loophole in solar equipment imports
GE Renewable Energy wins 218.7MW wind turbine contract in India
India, Russia expand cooperation in Kudankulam nuclear power plant MARKET OVERVIEW
AND TRENDS 6<br>
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KEY HIGHLIGHTS Govt to plug duty loophole in solar equipment imports India imposed basic customs duty of 40% on solar modules and 25% on cells with effect from 1 April
Solar developers are tapping “project import scheme,” to avoid paying high duties on cells 7 The government is looking at ways of plugging a loophole in regulations that may allow many solar power developers to avoid paying duties of up to 40% on cells and modules and instead get away with shelling out only 5%. India imposed basic customs duty (BCD) of 40% on solar modules and 25% on cells with effect from 1 April in a bid to cut imports from China and boost domestic manufacturing.
The project imports scheme is meant to facilitate import of machinery, instruments and apparatus among others required for setting up a new unit or for substantial expansion of an existing unit. These can be imported at a concessional duty of 5%.The projects covered under the scheme include power, industrial plants, irrigation, mining and projects for exploration for oil or other minerals. Union power and new and renewable energy minister Raj Kumar Singh said his ministry has alerted the finance ministry to gather data on which companies have so far imported solar modules and cells through the project import scheme route after the imposition of the customs duty.
A power sector consultant requesting anonymity said the project import scheme fails the objective of developing the Indian solar module and cells industry.
Source: Livemint<br>
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GE Renewable Energy wins 218.7MW wind turbine contract in India
- The company will supply 81 units of turbines for projects located across Tamil Nadu and Madhya Pradesh. GE Renewable Energy, a division of General Electric, has secured a contract from Indian renewable energy firm Continuum Green Energy to supply wind turbines for its 218.7MW portfolio of wind power projects across India. Under the terms of the contract, GE Renewable Energy will deliver and install 81 of its 2.7-132 onshore wind turbines for projects in the states of Tamil Nadu and Madhya Pradesh.
GE Renewable Energy Asia-Pacific Onshore Wind regional sales leader Deepak Maloo said: “We are pleased to extend and deepen our partnership with Continuum in India. “This is truly a testament to our strong working relationship and Continuum’s continued trust in our technology and capacity to deliver turbines. “We look forward to furthering our partnership with Continuum in the future as they continue to build out their renewable energy portfolio in India.
Managed by Continuum, the wind projects are intended to offer accessible, affordable and reliable energy to local businesses and consumers.
Source: Power Technology 8 India, Russia expand cooperation in Kudankulam nuclear power plant
- After welding the finishing weld and carrying out inspections, the Reactor Vessel weighing 320 tons was moved to a gas furnace and six thermocouples were installed. The equipment was in the furnace for four days at a temperature of 650 degrees Celsius for 8-10 hours, according to a company statement. Atommash, AEM-Technologies, JSC Branch in Volgodonsk (part of the machinebuilding division of Rosatom - Atomenergomash) carried out the final heat treatment of the VVER-1000 Reactor Vessel for Kudankulam NPP Unit No.5 as part of the next step in the civil nuclear cooperation between India and Russia.
Kudankulam NPP situated in Tamil Nadu in the south of India is supposed to include 6 Power Units with VVER-1000- type reactors with an installed capacity of 6000 MW. The first phase consisting of Units No. 1 and No. 2 was included in India's national electricity grid in 2013 and 2016, respectively. Currently, the construction of Power Units Nos. 3, 4 and Nos. 5, 6, which are the second and third phases of Kudankulam NPP. AEM-Technologies, JSC is the largest manufacturing company in the structure of Atomenergomash JSC, the machinebuilding division of Rosatom.
Today the company brings together over 300 enterprises and organizations and over 250,000 employees, according to a company statement.
Source:Economic Times<br>
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REPORTS FOR Sept 2022<br>
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