WCA September 2012

58 / 136

Wire & Cable ASIA – September/October 2012 56
India
This is due to liquidity pressures on the company, as
illustrated by the over-utilisation of its working capital
facilities by 6.1 per cent in April 2012 and 11.4 per cent in
May 2012.
Fitch notes that the company’s working capital
requirements increased in FY12, due to higher inventory
requirements and longer receivable periods, and there
was a lack of sufficient working capital limits to support
the same. The agency is concerned with Aradhya’s
liquidity over the short-term due to a continuance of
insufficient working capital limits.
However, over the medium-term, the company’s liquidity
could see an improvement in the working capital cycle
through a reduction in inventory and debtor days,
together with an expected enhancement in its working
capital limits.
Positive rating action may result from utilisation of the
working capital facilities within sanctioned limits and
timely debt servicing of the term loans for two continuous
quarters.
Aradhya has manufactured steel wires and wire ropes,
catering primarily to the automotive and infrastructure
segment, since 1971.
Aradhya Steel Private Limited – India
Website:
Digital substation
Alstom T&D India has completed the commissioning of
one bay of a 220kV substation with its patented Optical
Instrument Transformer. The substation, located at Jambuva
in the Vadodara district of Gujarat, uses the company’s
Compact Optical Sensor Intelligence (COSI-CT) range of
instrument transformers.
Gujarat Electric Transmission Corporation, the state
transmission utility, awarded the contract to Alstom as a
pilot project.
Alstom T&D India managing director Rathin Basu said with
the new COSI range of Optical Instrument Transformers,
Alstom Grid is leading innovation in India. “Alstom uses
COSI-CT - a digital substation solution - to support the
development of smart grids, allowing India’s emerging
power grids to deliver more energy with greater flexibility in
a more complex environment,” Basu added.
The COSI range through optical ethernet connectivity
digitalizes current and voltage signals, increases accuracy,
reduces use of copper cables, strengthens the reliability of
the system, and facilitates current transformer sizing
calculations.
Being SCADA-ready, it brings smart grid intelligence to the
substation and allows operational data exchange with the
network dispatch centre.
The COSI range products were manufactured at Phoenix,
USA and were locally supported by Alstom’s instrument
transformer unit in Hosur and substation automation
solution unit in Pallavaram in the State of Tamil Nadu.
Alstom T&D India
Website:
Wind power target
Indian independent power producer Mytrah Energy Ltd is
set to increase its total installed wind farm capacity to
500MW by March 2013.
“From about 250MW of capacity installed across
Maharashtra, Rajasthan, Gujarat and Andhra Pradesh, we
will increase this to 400MW over the next three to four
months and this may go up past 700 to 800MW by March
2013 if a favourable tariff structure is evolved in Andhra
Pradesh,” said Mr Ravi Kailas, chairman and chief executive
of Mytrah Energy.
The company has an installed capacity of 60MW of wind
farms in Andhra Pradesh and could develop a further
200MW by next March. Of the expansion now underway,
150MW capacity is at advanced stage.
India is adding about 3,000MW of wind energy each year
and there is potential to harness additional power from wind
farms. In Andhra Pradesh alone, there is potential to tap
more than 10,000MW, Mr Kailas said.
Mytrah Energy Ltd – India
Website:
Steels into Saudi
Arabia?
Indian state-owned Rashtriya Ispat Nigam Ltd (RINL) is
considering the establishment of a three million tonnes per
annum steel plant in Saudi Arabia, as a joint venture with
local manufacturer Rajhi Steel.
“The integrated plant would produce both long and flat
products. RINL has forwarded a non-disclosure agreement
for signing,” a source close to the development told
reporters. The gas-based plant would take five years to go
on stream from the start of construction. The shareholding
and other matters would be decided in the days to come,
the source added.
The Riyadh-based Rajhi Steel already has a capacity of over
three million tonnes per year, mostly rebars for applications
in the local construction industry.
Steel consumption in Saudi Arabia increased to around 12
million tonnes in 2011, while World Steel Association figures
show its production rose to 5.3 million tonnes in 2011. The
steel shortfall is currently imported. SAIL (Steel Authority of
India Ltd) also has plans to set up four overseas plants, in
Mongolia, South Africa, Oman and Indonesia.
Rashtriya Ispat Nigam Ltd – India