Dabur sets up new beverage venture in Sri Lanka

Dabur India establishes new manufacturing facility in Sri Lanka with a capacity to produce 2.8 lakh cases of fruit-based beverages every month

Dabur India Ltd announced its entry into Sri Lanka with the setting up of an overseas subsidiary-Dabur Lanka (Pvt) Ltd.

Dabur Lanka signed an agreement with the board of investment of Sri Lanka to establish this venture. The company will invest Rs70 crore to establish a new export-oriented manufacturing facility for producing a range of fruit-based beverages in Gampaha, north of Colombo. The new manufacturing facility has a capacity to produce 2.8 lakh cases of fruit-based beverages every month. It will be commissioned in August-September of 2012.

"The demand for our fruit-based juices & beverages under the Réal brand has been reporting strong growth month-on-month. Dabur's food business had reported over 28% growth in 2010-11 despite the supply constraints. As continued high growth is expected in the future too, we are setting up this new facility to augment our production capacity for fruit-based beverages and meet the growing demand for our products," Dabur India chief executive officer Sunil Duggal said.

Dabur has further strengthened its presence in the SAARC region with the setting up of this Lanka operation. In the region, Dabur already has manufacturing presence in Nepal and Bangladesh, besides facilities in other overseas locations like Dubai, Ras-al-Khaimah, Nigeria, Egypt and Turkey.
 
In the late afternoon, Dabur India was trading at around Rs101.90 per share on the Bombay Stock Exchange, 0.49% up from the previous close.

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Supreme Infra constructs 4-lane project in Maharashtra

Supreme Infra is proud to commence its first Toll Plaza three months ahead of the scheduled time

Supreme Infrastructure India Ltd, under its SPV-Supreme Kopargaon Ahmednagar Tollways Pvt Ltd, has commenced the Toll Plaza at Nagar Kopargaon Road at Dehri Village, Maharashtra. This is the first Toll Plaza started by the company.

Supreme Infrastructure India Ltd has completed the project for construction of 4-laning of Kopargaon-Ahmednagar Road (Sh-10) from Km 120/00 to 175/530 (Project II) in Maharashtra at an estimated project cost of Rs234 crore which has been completed three months ahead of anticipated scheduled time of completion.

The concession period of the project is till 9 May 2017 with eligible extension due to escalation of various variable factors. The road length of the project was 55 km.

In the late afternoon, Supreme Infra was trading at around Rs228.45 per share on the Bombay Stock Exchange, 3.61% up from the previous close.

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Oil ministry sitting on approvals for 8 Reliance gas finds: DGH

The DGH, while forwarding a note to the oil ministry for approval of RIL's investment plans for four satellite finds in the KG basin block, stated that Declaration of Commerciality for eight finds has been awaiting the approval of the oil ministry since November 2007

New Delhi: The oil ministry representative on the panel that oversees operations in Reliance Industries' (RIL) KG-D6 block has not approved almost half the gas finds the company has made, even though over years have elapsed since they were struck, reports PTI quoting oil regulator Directorate General of Hydrocarbons (DGH).

The DGH, forwarding a note to the ministry for approval of RIL's investment plans for four satellite finds in the Krishna-Godavari basin block, stated that a Declaration of Commerciality for eight finds has been awaiting the approval of the oil ministry since November 2007.

"Declaration of Commerciality (DoC) of eight satellite gas discoveries (D-4, D-6, D-7, D-8, D-16, D-19, D-22 and D-23) was reviewed in the Management Committee (MC) meeting on 22 November 2007," the DGH note said.

"The MC resolution (declaring the eight finds as viable for commercial production of gas) had been signed by MC nominees of the joint venture (RIL) and its minority partner (Niko Resources of Canada) and the first government nominee (DGH). Ministry of petroleum and natural gas' consent is still awaited on MC resolution," it said.

After a gas discovery is made, its potential is assessed to ascertain if it can be commercially produced. Once the DoC is approved by the MC, which oversees operations in the block, an investment plan is drawn up for bringing the gas to production.

Unless, the oil ministry grants a DoC, RIL cannot begin work on the field development plan.

RIL has so far made 18 gas finds in block KG-DWN-98/3, or KG-D6, which lies off the Andhra coast. Of these, two-Dhirubhai-1 and 3, or D1 and D3-have been put on production and nine others (D-2, D-4, D-6, D-7, D-8, D-16, D-19, D-22 and D-23) have been declared as commercially viable by DGH.

Of these nine finds, the oil ministry has sanctioned the DoC of only D-2, which was discovered in April 2002, around the same time as the landmark D-1 and D3 discoveries.

The DGH note said RIL submitted a field development plan for the nine satellite gas discoveries with an estimated capex of $5.6 billion and reserves of 1,708 billion cubic feet (BCF) in July 2008.

However, techno-economic feasibility studies carried by the DGH at the government-fixed gas price of $4.2 per mmBtu found them unviable, yielding a negative Net Present Value of $2.51 billion.

Subsequently, DGH asked RIL to optimise the plan. The firm submitted an optimised development plan for four gas fields (D-2, D-5, D-19 and D-22) in December 2009 proposing to invest $1.529 billion to produce up to 10 million standard cubic metres per day of gas in five years' time.

While D-6 was discovered in April 2003, D-19 was struck in December 2009, and D-22 in April 2005, the note said.

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