Installation of Solar Power Plant of 200 MW or more Capacity at the Central State Farm at Jetsar, Rajasthan



Installation of Solar Power Plant of 200 MW or more Capacity at the Central State Farm at Jetsar, Rajasthan
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for utilization of 400 hectares of un-cultivable farm land at the Central State Farm (CSF), Jetsar in Sri Ganganagar District, Rajasthan for setting up of a solar Power Plant of capacity exceeding 200 MW. The land is presently in possession of National Seeds Corporation (NSC), a Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Agriculture and Farmers Welfare. The Solar Power Plant will be set up by a CPSE, which would be selected through negotiation.

NSC will provide 400 hectares of un-cultivable land, out of the 5394 hectares under its possession to the identified CPSE, which will bear the costs relating to the installation of the Solar Power Plant. The selected CPSE will have to do tariff based competitive bidding for the project. It will be allowed to utilize the land for the installation of a Solar Power Plant over a contract period of 25 years, which may be extended on mutually agreed terms and conditions, after which the entire plant will be surrendered to the NSC on as is where is basis. The Project, by utilizing un-cultivable land for a Solar Power Project, will yield revenue for NSC and will also generate clean energy for the nation. 

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Government decides to allow States to impose and enforce stock limits to check the price rise in sugar
Government decides to allow States to impose and enforce stock limits to check the price rise in sugar

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to bring “sugar” under the purview of imposing stock holding limits on dealers of sugar, keeping in view the recent upward trend in sugar prices. The Government has noticed that in spite of sufficient availability of sugar stocks with the Sugar Mills, the wholesale and retail prices have shown a spurt.

The Government has taken stock of the availability of sugar and different factors contributing to rise in market prices of sugar across the country. In order to check the inflationary tendencies in sugar and to reduce hoarding by wholesalers and retailers, Government felt an immediate need to bring sugar within the purview of stock limits. The decision will empower State and Central agencies to impose stock limits and regulate supply, distribution, storage and trade of sugar to bring down sugar prices at reasonable level by curbing unscrupulous trading. 

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Cabinet approves MoU between India and Papua New Guinea on cooperation in the field of health area and medical science
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing an Memorandum of Understanding (MoU) between India and Papua New Guinea on cooperation in the field of Healthcare and Medical Science.
The bilateral MoU will encourage cooperation between the Ministry of Health & Family Welfare of India and the Ministry of Health and HIV/AIDS of the Papua New Guinea through joint initiatives in the health sector. It will strengthen bilateral ties between India and Papua New Guinea.

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Memorandum of Understanding between Insurance Regulatory and Development Authority of India and the Insurance Authority, United Arab Emirates
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) between Insurance Regulatory and Development Authority of India (IRDAI) and the Insurance Authority of United Arab Emirates. The MoU was signed in February, 2016.
The MoU provides for enhanced cooperation between the two authorities in the field of insurance supervision by providing a framework for co-operation such as channels of communication. It will also result in increasing mutual understanding through the exchange of regulatory and relevant supervisory information including confidential information to enforce or ensure compliance with their respective laws and regulations

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Enhancement of Investment by Bharat Petroleum Corporation Limited in Bharat Oman Refineries Limited
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL). The investment amount could be enhanced upto a maximum of Rs.3000 crore by way of subscription of convertible warrants / other instruments giving right to convert it into equity shares to be issued by BORL, beyond DPE guidelines dated 05.08.2005.

The infusion of funds by the BPCLs will enable BORL to overcome the implications on account of the erosion of the net worth. Besides it will enhance the availability of petroleum products in the Northern and Central parts of the country, industrial development of Madhya Pradesh and substantial increase in employment and tax earnings in the State.

Background:

Bharat Petroleum Corporation Limited (BPCL) is a public sector undertaking under the Ministry of Petroleum and Natural Gas. It has promoted a joint venture company with Oman Oil Company Limited (OOCL) named Bharat Oman Refineries Limited (BORL). The BORL has commissioned the 6 MMTPA (120 Thousand Barrels Per Day) Refinery at Bina in Madhya Pradesh, in June, 2011 at a project cost of about Rs. 12,754 crore. Currently the refinery is operating at 100% of its installed capacity.

The company now proposes to undertake a debottlenecking project at the refinery to further increase the refining capacity from 6 MMTPA to 7.8 MMTPA. The estimated project cost is Rs.3,072 crore, with an overall implementation schedule of 36 months from date of receipt of environmental clearances (Zero Date). The highlights of the proposal for debottlenecking project include certain modifications to produce products in accordance to the new Auto Fuel Policy.

Hence, there is a need for immediate infusion of funds in BORL by the shareholders. OOCL while expressing their support for the project, had indicated that they are not prepared to commit further funds for the project at this stage. Therefore, BPCL Board has decided to infuse funds to the tune of Rs 3,000 Crore for funding the debottlenecking project and for meeting the extraordinary losses suffered on account of the sharp fall in the prices of crude oil and finished products.
Government has, accordingly, decided to grant approval to the proposal of BPCL to enhance its investment in BORL by an additional amount of up to Rs. 3,000 crore for completion of the de-bottlenecking project. 

  

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