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Production growth of eight key infrastructure sectors slowed down to 4 per cent in June this year due to a decline in the output of crude oil, and refinery products, according to official data released on Wednesday. The core sectors' production grew by 6.4 per cent in May 2024. The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 8.4 per cent in June 2023. During April-June this fiscal, the output of core sectors rose by 5.7 per cent against 6 per cent in the same period last fiscal. The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP) which measures overall industrial growth.
The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6 per cent in January, on account of poor performance of sectors like refinery products, fertiliser, steel and electricity, according to the official data released on Thursday. The growth of eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.9 per cent in December. It was 9.7 per cent in January 2023. The previous low level of growth rate was recorded at 0.9 per cent in October 2022. Cumulatively also, the growth rate in the output of these sectors slowed down to 7.7 per cent as against 8.3 per cent in April-January 2022-23. The output growth of refinery products and fertiliser was in the negative zone. And the pace of increase in the output of coal, steel, and electricity decelerated during the month under review. However, crude oil, natural gas, and cement production recorded positive growth in January. The eight core sectors contr
The Guwahati Refinery on Friday signed a Memorandum of Understanding (MoU) with the Tata Cancer Care Foundation for providing special medical equipment to Silchar Cancer Centre in Assam. Under the agreement, Guwahati Refinery will extend a financial support of Rs 16.39 crore for procuring medical equipment like LINAC for delivering external beam radiation therapy, treatment planning system-computer based software system used in radiation oncology, dosimetry and immobilisation devices, a release said. G K Goyari, Chief General Manager and Refinery Head expressed happiness to be a part of the collaboration, and hoped that the support would further help cancer patients of the northeast region in availing affordable treatment. Silchar Cancer Centre is located on the Silchar Medical College and Hospital campus, and caters not only to patients of Assam but those from Tripura, Mizoram and parts of Meghalaya as well, the release added.
State-owned Odisha Mining Corporation (OMC) on Thursday signed a pact with Hindalco Industries for providing long-term raw material linkage for its refinery project at Kansariguda in Rayagada district. The agreement was signed in presence of Chief Minister Naveen Patnaik. OMC MD Balwant Singh his Hindalco counterpart Satish Pai signed the agreement for their respective organisations. The pact will speed up the work for a two-million ton alumina refinery in Rayagada. Terming the development as a significant milestone in the journey of Odisha's industrial growth, Patnaik said the state is poised to become an industrial hub of the East. "Let's co-create a future where business and socio-economic growth go hand in hand, making Odisha a shining example for the world," he said. Patnaik appealed to people of Rayagada to provide support to the refinery project, so that work can start soon and make visible changes in the lives of local people. In June, the state government came up with a n
The Numaligarh Refinery Limited (NRL) has registered the highest-ever Profit After Tax (PAT) since its inception at Rs 3,703 crore as compared to Rs 3,562 crore registered in the last fiscal, chairman R Rath said on Saturday. In a first, the refinery was also able to achieve capacity utilisation of more than 100 per cent, processing 3,091 TMT of crude oil since its inception, Rath said at the post-AGM press conference after virtually addressing NRL's 30th Annual General Meeting. The refinery also achieved the highest-ever distillate yield of 87.7 per cent and best-ever specific energy consumption (SEC) of 61.7 MBN, he said. The company also recorded the highest-ever revenue from operations during the year at Rs 29,786 crore as compared to Rs 23,547 crore the previous year, he pointed out. The earning per share (EPS) of the company also saw a surge to Rs 25.17 as compared to Rs 24.21 in 2021-22 while the net worth increased to Rs 11,427 crore as on March 31, 2023 as against Rs 8,388
Leading industrialist Anand Mahindra on Tuesday hailed the discovery of lithium reserves in Rajasthan and called for quickly stepping up to install refining capacity of the crucial mineral in the country. In a tweet, he noted that China already has a lead when it comes to refining capacity. "Finally. We have sizeable reserves of a natural resource critical for growth in the 21st century. A signal that India has an 'electrifying future.' But the key element in the supply chain is refining, not reserves, where China has a huge lead. We need to step up quickly to install that capacity," Mahindra tweeted. According to various reports, the Geological Survey of India (GSI) has found another reserve of lithium in Degana in Rajasthan's Nagaur district. Lithium is primarily used to produce rechargeable batteries, especially those used in electric vehicles and portable electronic devices, among others. Earlier, lithium reserves were also found in Jammu and Kashmir.
Shiv Sena (UBT) chief Uddhav Thackeray on Saturday said the proposed oil refinery in Barsu in coastal Ratnagiri district should be moved to Gujarat and good investment projects from the neighbouring state be brought to Maharashtra. Interacting with villagers at Barsu, Thackeray said the government should hold a dialogue with locals before coming up with any project. A section of locals is opposing the refinery on the grounds that it will adversely affect the fragile biodiversity of the coastal Konkan region and also hit their livelihood. The Vedanta-Foxconn and Tata-Airbus are gone. Take this project to Gujarat and get good projects back to Maharashtra, Thackeray said. Thackeray said when he was the chief minister, similar protests had taken place while building the Samruddhi highway. But we struck a dialogue with protesters. We worked out a way without hampering development, Thackeray said. Earlier, Thackeray had planned to hold a rally in Barsu-Solgaon area earlier but was denie
Maharashtra Chief Minister Eknath Shinde on Friday said the proposed refinery project at Barsu village in Ratnagiri district will not be implemented without the local people's consent, and appealed for calm in the area. Earlier in the day, police used tear gas in Barsu and Solgaon villages in Rajapur tehsil to disperse the protesters who are opposing the refinery, and detained Shiv Sena (UBT) MP Vinayak Raut. "A former chief minister himself had suggested the Barsu site to the Union government. After losing the CM's post, he is opposing the project. One can not have such double standards," Shinde told reporters in Mumbai, apparently referring to Shiv Sena (UBT) leader Uddhav Thackeray whose party is now backing the section of villagers opposing the refinery. "We are a people's government and we are not against them. We will not proceed without the local people's consent,' the chief minister added. Shinde also claimed that more than 70 percent of locals support the project as it wil