Indian-Fertilizer-Scenario - Department of Fertilizers

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department of fertilizers ministry of chemicals & fertilizers 125 7. The company operating the buffer stock will be entitled to Inventory Carrying Cost at a rate 1 percentage point less than the Prime landing Rate (PlR) of the State bank of India as notified from time to time. This rate would be applicable at Rs. 4650 per MT (MRP less than the dealer's margin i.e. Rs. 4830 Rs. 180) for the quantity and the duration for which the stock is carried as buffer. In case of cooperative. it will be at Rs. 4630. per MT as dealers' margin in this case is Rs. 200 per MT. 8. The Company will also be paid ware housing and insurance charges at the rate of Rs. 23 per tonne per month on the quantity carried as buffer. 9. Since the material will be moved in two stages i.e. from the plant to the buffer stocking point and then on to consumption points. additional handling charges at the rate of RS. 30 per MT will be apid tothe Fertiliaer Company on the quantity sold from the buffer stock. 10. In addition, freight from the buffer stocking warehouse th the block in case of movement outside the district in which buffer stocking godown is located, will also be paid to the company, in accordance with the provisions under the Uniform Policy for freight subsidy announced by the Government with effect from 1st april, 2008. 11. The Fertilizer companies will be required to submit fortnightly reports to the Department of fertilizers indicating the quantites of the buffer stock available at each location. The s ame will also be monitored through the online 'Fertilizer Monitoring System'. appropriate entries will also be made in the Fertilizer Monitoring System by the company operating the buffer. 12. No Inventory Carrying Cost or warehousing and insurance charges would be payable tothe lFS on stocks held in excess ofthe quantities agree upon for different period and zones. 13. No other charges other than the above will be paid to the company for operating the buffer stock. The company will be responsible for safe storage of the Urea as well as for ensuring its quality standards as per FCO norms. Company will be permitted to rotate the stock in the buffer stocking point by simultaneously drawing down the stock for normal sale and replenishing the stock by equl quantity. However, it will ve the responsibility of the company to ensure that at no point the stock in the buffer is less than the stipulated level. 14. The lFS will maintain separate accounts of stock, purchases ans sales for the quantities held under buffer stocking scheme. 15. buffer stock will be operated in each State by the lFS concerned at the level prescribed by the DOF. This stock will be scaled down in the lean months of February-april as decided by the DOF and built-up and maintained at peak levels in the remaining months of each year. 16. lead Fertilizer Suppliers will drwn from the buffer stock as per requirement on the direction of the Department of Fertilizers in consultation with the State Govenment. Quantity sold from the buffer stock will be reoccupied not later than the 7th of the month subsequent to themonth in which such sale is made.
126 indian fertilizer scenario 2010 20. notiFiCAtion on PRoPosAL FoR ConVeRsion oF FUeL oiL/ loW SUlPHUr HeaVY SToCK (Fo/lSHS) baSeD Urea UNiT aT baTHiNDa UNiT oF NFl To NaTUral gaS (Ng) No.14016/2/2007-FPP(Vol.II)(1) Government of India Ministry of Chemicals and Fertilizers Department of Fertilizers Shastri bhavan, New Delhi Dated the 8th February, 2010. to The Chairman & Managing Director, National Fertilizers limited, a-11, Sector 24, NOIDa. Subject: Proposal for Conversion of Fuel Oil/ low Sulphur Heavy Stock (FO/lSHS) based Urea unit at bathinda unit of NFl to Natural Gas (NG) sir I am directed to convey the approval of the President to the Investment proposal of bathinda Unit of National Fertilizers limited (NFl) for Conversion of Fuel Oil/ low Sulphur Heavy Stock (FO/lSHS) Urea Unit to Natural Gas (NG) at an estimated cost not exceeding Rs. 1294.19 crore, with a foreign exchange component of Rs. 169.89 crore. The project will be implemented on lump sum turnkey (lSTK) basis and will be commissioned within a period of 36 months from the zero date i.e. 29th January 2010, the date of communication of approval. 2. The project cost shall be reimbursed subject to a ceiling of Rs.1294.19 crore (subject to exchange rate variation, changes in statutory levies and escalation/de-escalation on account of nickel price till the issuance of letter of intent on the quoted quantity of nickel). The project cost shall be adjusted after completion of conversion project for any savings during execution, lower interest rate on loans with reference to SbI’s PlR and sales realization of redundant front end of existing plant after conversion. The reimbursement of project cost shall be based on the following parameters: (a) The unit shall not be allowed to use FO/lSHS as feedstock after conversion. (b) The actual project cost shall be admitted after scrutiny by a team comprising representatives of PDIl, DOF, FICC and NFl and will be in accordance with the CCea approval along with exchange rate variation and variation in statutory levies. (c) The NPS-III pre-set energy norm would be allowed for 5 years and savings in energy with respect to the same would be considered on designed/guaranteed basis and the same would be available to the Unit for partially meeting the project cost. (d) The balance project cost shall be paid through Special Fixed Cost component and it will be covering the following items i. Interest on borrowed Capital ii. Own funds iii. Return on own funds as a part of balance project cost (e) 12% post tax return (pre-tax 18.18% after 30%CT + 10% SC +3% eC) be considered for own funds deployed for the project as at (d) above. (f) borrowings for project cost would be considered at the actual rate of interest subject to the maximum of SbI PlR. (g) The Special Fixed Cost would be fixed for 5 years period and would be paid from the date of commercial
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THE FERTILIZER SECTOR
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Indian-Fertilizer-Scenario - Department of Fertilizers

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