Current Affairs March 2015

RINL launches first of its kind green project to generate 120 MW power

Rashtriya Ispat Nigam Limited (RINL) the corporate entity of Vizag Steel Plant (VSP) on 31 March 2015 launched novel green project that can generate 120 MW power.

It is first of its kind green project launched in Indian Steel Industry that can generate pollution free captive power using 100 per cent Blast Furnace Gas and Coke Oven Gas.

The plant consists of state-of-the-art Boiler Turbo Generator (BTG) Power Plant technology in order to efficiently utilise the surplus Blast Furnace Gas (BFG). This Power Plant is designed for firing 100 per cent BFG and Coke Oven Gas for the new captive power plant of 120 MW-capacity.

The plant is built at a cost of Rs 676 crore. It will help VSP to move step towards achieving self-sufficiency in power generation and to reduce dependency on the State Grid in the process of steel making.

Presently, RINL is having three turbo generators each 60 MW (180 MW) capacity and two turbo generators of 67.5 each (135MW) capacity. Thus, having total captive power generation capacity of 315 MW.

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Union Government amends guidelines for financial support to PPP in infrastructure

Union Government on 31 March 2015 approved amendments to the Public Private Partnerships (PPP) guidelines. The approved amendments seek to enhance financial support to projects in infrastructure sector.

Decision in this regard was taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi.

Amendments approved

  • Change in the definition of a Private Sector Company in the guidelines for financial support to PPP in Infrastructure under the Viability Gap Funding (VGF) Scheme.
  • The definition of a Private Sector Company means a company which is not a Government Company.
  • In this case Government company is defined as any company in which more than 51 per cent of the paid-up share capital is held by the Union Government or State(s) Government or partly by Union Government and partly by State Government (s).
  • It also includes a company which is a subsidiary company of such a Government company.

This decision was taken to remove any ambiguity in interpretation of the term Private Sector Company in order to align it with the definition of Government Company defined under Section 2 (45) of the Companies Act, 2013.

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