WCA September 2012

India

transformer unit in Hosur and substation automation solution unit in Pallavaram in the State of Tamil Nadu.

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. 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. Aradhya Steel Private Limited – India Website : www.aradhyasteel.com Digital substation

Alstom T&D India Website : www.alstom.com 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 : www.mytrah.com 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.

The COSI range products were manufactured at Phoenix, USA and were locally supported by Alstom’s instrument

Rashtriya Ispat Nigam Ltd – India

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Wire & Cable ASIA – September/October 2012

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