Management additional replied (March 2002) that project had been declared as completely turnkey forex broker idle, economically unviable and risk to shift it to Haldia Refinery was being explored (March 2002). The plant was finally commissioned in August 2000 at a price of Rs.36.forty four crore. However, because of delay in building of despatch facilities required for promoting propylene within the open market, the industrial production may begin solely in May 2001.
Hindustan Petroleum Company Limited
The Region approached (April 1999) the contractors, (three of whom had been also being thought of for award of the contract in opposition to new tender) to simply accept the extension from 18/19 June 1998 at the rates received in new tender. The contractors agreed (May 1999) to accept new charges solely from 23 April 1999 i.e. the date on which the value bids had been opened, on the ground that they had already incurred expenditure as per the phrases of the old contracts. The extension of contracts on the old charges from July 1998 to April 1999 resulted in additional expenditure of Rs.1.06 crore.
Surplus Manpower At Delhi Bottling Plant
The remaining two (production of BSF and color management by way of toner injection) have been saved on hold (February 2001) as they were not viable because of excessive value and depressed market conditions. In essence, subsequently, the whole investment of Rs.23.52 crore remained idle in as a lot as the assets created therefrom couldn’t be put to use. This idle investment might have been restricted to Rs.three.20 crore only, had the Company determined to desert the project on the time of choice of the Government for withdrawal of APM in November 1997. To excel in providing solutions in Information and Communication Technology, Power and Infrastructure Sectors globally by anticipating alternatives in technology. TCIL, a main engineering and consultancy company, is a wholly owned Government of India Public Sector Enterprise under the administrative management of the Department of Telecommunications (DOT), Ministry of Communications, Government of India.
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Management in its reply had admitted that there was slow-down within the economy from April 1997. Further, the Company was anticipated to consider the market demand, supply and sale value of its competitor at the time of assessing the viability of the project. Further delayed review of the project resulted on this fait accompli. Board of Directors of Indian Oil Corporation Limited (Company) approved (October 1995) organising of propylene separation unit (PSU) of TPA at Panipat Refinery at an estimated price of Rs.45.35 crore on the idea of estimated demand and provide evaluation.
7Eight Additional Expenditure As A Outcome Of Delay In Finalisation Of Tender
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- The Plant which was scheduled to be completed by December 1998, was accomplished in October 2000 at a total cost of Rs.23.52 crore.
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61 Infructuous Expenditure On Setting Up Of Propylene Separation Unit
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Accordingly, in August 1997 it determined to hire for an initial period of two years, low-pressure natural gasoline compression providers at GGS I and IV for a complete of 3 LCMD (Lakh cubic metres per day) capability. Tenders were invited (September 1997) underneath two-bid local aggressive bidding system for GGS IV only as the technical particulars for GGS I couldn’t be firmed up. The reply is devoid of any advantage as a outcome of the cost of overtime is in itself questionable. Management has clearly did not rationalise the workers construction consistent with its other bottling plants. Further, as a substitute of reducing surplus manpower available and redeploying them, it continued to pay overtime allowance for actions that could have been carried out by fewer personnel.
In order to conform to specifications of sulphur content material in diesel, the Company decided to set up a Diesel Hydro Desulphurization (DHDS) Unit at its refinery unit in Vishakapatnam. Kinetics Technology International BV, Netherlands (KTI), the method licensor to utilise the know-how for a hydrogen manufacturing unit (HMU) which formed part of DHDS Unit. The Company entered (May 1996) into a contract with Engineers India Limited, (EIL) New Delhi to execute the complete project.
As a results of foregoing deficiencies in Management, the Company was loaded with an unproductive expenditure of Rs.2.ninety one crore every year on salary and allowances to surplus manpower. Management in its reply said (June 2002) that discount of surplus manpower at bottling plants had at all times been its concern and due to this fact, efforts had been on to optimise the deployment pattern via discussion with the collectives. Further, enhance in the fee of overtime allowance was due to increase in additional time allowance fee. For instance, WL brokerage purchasers don’t have extensive control over their business.
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The Company had no viable utilisation plan, merchandise to be handled etc. leading to infructuous expenditure of Rs.31.07 crore. The complete value of the terminal including land value was Rs.31.07 crore with 2 floating roof tanks for Naphtha with allied services and 1 cone roof vertical tank for FO with out dockline. Meanwhile, the Company obtained (August 2001) environmental clearance for storage of High Speed Diesel (HSD) from Ministry of Environment and Forest, when the terminal already stood constructed to handle Naphtha and FO.
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Improper deployment of workers at Delhi LPG Bottling Plant, and excessive payment of extra time allowance, regardless of having surplus manpower resulted in unproductive recurring expenditure of Rs.2.ninety one crore each year. Although the flats were to be completed by March 1998, CIT made a requirement (December 1998) of second instalment of 25 per cent of the total premium for the flats and car parking totalling to Rs.four.78 crore. Finding it troublesome to recuperate the amount from CIT, the Company requested CIT handy over the completed flats equal to the quantity of advance already paid.
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