Page 53 - Sept-2020-Issue

Cochin Port helps FACT to look East; First

Coastal Shipment of FACT flagged off

n a move that redefines Chairman, Cochin Port and Mr.
the partnership between Kishor Rungta, CMD, FACT.
IGovernments owned corpo- Incidentally, promotion of coastal
rates, Cochin Port Trust (CPT) shipping is one of the focus areas
and Fertilizers and Chemicals of the 'Sagarmala', the flagship
Travancore Ltd. (FACT), two program of Ministry of Shipping,
of the leading PSUs in Kerala, Government of India and this
flagged off the first containerized initiative of CPT and FACT will
consignment of fertilizers meant bolster cost effective coastal ship-
for coastal shipping from Cochin ping of fertilizers from ‘Factory to
to Haldia, West Bengal. Flagging off the first containerized Farmer’. The event also marked
Since 2019, FACT was planning consignment of fertilizers by FACT and another milestone of CPT-FACT
to look beyond South and to en- Cochin Port Trust. partnership in signing of a MoU
ter the eastern markets as part of of any chance of contamination for the reconstruction of SCB for
their plan to build up a pan-India and pilferage, less damage to the handling liquid ammonia at a cost
presence. They were gearing up cargo etc. Finally, the efforts put of Rs.20.90 crore with Rs.9.59 crore
to market ammonium sulphate in in by all the stakeholders resulted to be funded under ‘Sagarmala’
West Bengal and was looking for in shipment of first lot of 20 TEUs program and the balance to
a viable mode of transport. At this containing 560 Tonnes through be shared by Port and FACT.
point, the Business Development M. V. SSL Vishakhaptnam oper- Mr. Amal Kumar Mehera, Deputy
Team of Cochin Port stepped in ated by M/s. Shreyas Shipping Chairman, Cochin Port Trust and
and offered them a solution by and Logistics Ltd., a Transworld Mr. A.S. Kesavan Nampoothiri,
way of ‘door to door’ movement Group Company. The con- ED, (PC), FACT executed the doc-
using coastal shipping which has tainers after stuffing at FACT, ument in presence of Chairman,
lot of advantages like avoidance Udyogmandal were jointly flag- Cochin Port Trust and CMD,
of multiple handling, elimination ged off by Dr. M. Beena, IAS, FACT and other senior officials.

POWERGRID posts Profit After Tax of Rs. 2,048 Cr. for

Q1FY21; Total Income rises by 5% to Rs. 9,817 Cr.

ower Grid Corporation of as an exceptional item, the one- over the corresponding period
India Limited (POWER- time consolidated rebate of of FY 2019-20 on standalone ba-
PGRID) has posted a profit Rs. 1,075 cr. to DISCOMs / Power sis. For the quarter, the company
after tax of Rs. 2,048 cr. and total Departments of the States and incurred a capital expenditure of
income of Rs. 9,817 cr. on consoli- Union Territories for passing on about Rs. 1,906 cr. and capitalized
dated basis for Q1FY21. On stand- to the end-consumers on account assets worth Rs. 1,184 cr. (exclud-
alone basis, the Company posted of COVID-19 pandemic against ing FERV) on consolidated basis.
profit after tax and total income the billing of April, 20 and May POWERGRID’s gross fixed assets
of Rs. 1,979 cr. and Rs. 9,620 cr. re- 20. Excluding the impact of this on a consolidated basis stood at
spectively for Q1FY21. During the one-time rebate, the Company’s about Rs. 2,28,856 cr. as on June
quarter, the company recognized profit increased by 18 percent 30, 2020.

Kaleidoscope September, 2020 53