Now 5% Ethanol blending with Petrol
In this connection, the process of procurement of ethanol by the OMCs through national competitive bidding has commenced as OMCs have begun issuing public notice for procurement of indigenous anhydrous ethanol in different States. With this the stage is set for taking up the national programme for blending 5% ethanol with petrol countrywide except North East, J&K, Lakshadweep and Andaman & Nicobar Islands, w.e.f. 1st November 2006. Earlier, the 5% ethanol blended programme (EBP) was started in 9 sugarcane growing States and contiguous Union Territories (UTs) in 2003. This however did not make substantial headway for a number of reasons viz decline in sugarcane production, restrictions on interstate movement of ethanol and the backing out by suppliers, etc. The procurement of ethanol from the domestic market would help the sugarcane-growing farmers with better returns and supplement the availability of petroleum products in the country.
Shri Deora has been personally directing the efforts to revive this programme. A series of meetings have been held with the stakeholders such as ethanol suppliers, Indian Sugar Mills Association (ISMA) and the OMCs.
The Petroleum Minister had earlier directed that open bidding process should be commenced forthwith by the OMCs for purchasing ethanol in which all suppliers can participate and the price discovery is achieved in an open and fair manner. He did not favour approve the suggestion for direct purchase as it was felt that this method is non-transparent and thus has potential of embroiling the EBP Programme in controversy. Shri Deora opines this could adversely affect the implementation of EBP Programme hence not advisable to follow.
Shri Deora has further directed the OMCs to put out a clear tender in the market. OMCs have been given the complete commercial freedom to protect their commercial interests in arriving at workable ethanol pricing to take forward this important programme of blending 5% ethanol with petrol.
Kingfisher Airlines New Routes
With the launch of this new sector, Kingfisher Airlines now operates over 108 flights daily across 17 key Indian business and leisure destinations.
Commenting on the launch of these new routes, Dr. Vijay Mallya, Chairman and CEO, Kingfisher Airlines Limited said, “Through the launch of these new routes Kingfisher Airlines reaffirms its commitment towards addressing the needs of its travelers by providing connectivity between key business and leisure destinations across India.”
“The business track of Kingfisher Airline’s will grow by leaps and bounds through the launch of these routes and we continue to strive in providing better services and connectivity to our travelers” said Mr. Girish Shah, General Manager, Marketing, Kingfisher Airlines Ltd.
Satyam to Host Annual Analyst Day
The theme of this year’s Analyst Day is “The Next Orbit”. Mr. B. Ramalinga Raju, founder and chairman, Satyam will deliver the theme address; presentations by senior Satyam business leaders will follow. The proceedings will conclude with an open house Q & A session.
The Satyam Analyst Day presents an opportunity for analysts to better understand the company’s operations, and provides a forum in which the investment community may interact with leaders of different business units at Satyam.
The Mumbai event will be broadcast live via the Web. The live web cast may be found on the Satyam corporate site, www.satyam.com.
