The DRI investigation, started in 2009 and is still continuing, alleges overinvoicing of imported coal and powerplant equipment cumulatively amounted to around Rs 50,000 crore prior to 2008. Of this coal imports accounted for around Rs 29,000 crore, while powerplant equipment imports and "compensatory tariffs" claimed by a few companies is ...
Receive daily email alerts, subscriber notes personalize your experience. Register Now Iron ore miners such as Rio Tinto, Vale, Fortescue and BHP are working with steel companies in Asia and Europe to adapt products such as pellets, highgrade concentrates, sinter and lump ore for use in direct reduction iron (DRI) and blast furnaces to ...
At present, fossil fuels are the steel sector's bloodstream: 27 EJ (10 18 J) of coal, 3 EJ of gas and 5 EJ (1400 TWh) of electricity are consumed annually for the production of the mostly widely ...
The DRI probe against all these companies began after the agency issued a general alert to its field formations across India in March 2016, outlining the modus operandi of overinvoicing of coal imports from Indonesia. DRI alleged that money was being "siphoned" outside the country and the electricitygenerating firms were availing of ...
Receive daily email alerts, subscriber notes personalize your experience. ... Nucor's direct reduced iron (DRI) plant under construction in the areafor a mid2013 startup may reduce pig iron demand, putting more focus at theunit on coal handling despite the terminal's capability to switch acrosscommodities as needed. ... The coal consistency ...
The coal power policy has been influencing the development of China's coal power industry from the aspects of quantity control, technological progress, and marketoriented reform. Meanwhile, the strategic coal power policy of the mid and longterm future is yet to be welldesigned under the carbon peak and neutrality targets. Therefore, it is necessary to have a comprehensive overview of ...
DRI last week issued a "general alert" to customs offices claiming that power companies were exploiting "higher tariff compensation based on [the] artificially inflated cost of the imported ...
The Supreme Court stayed the Bombay High Court's order quashing the Directorate of Revenue Intelligence (DRI) seeking information about the alleged Rs 29,000crore overinvoicing by Adani Enterprises Limited in connection with coal imports from Indonesia. The Solicitor General argued the high court order had prevented DRI from collecting evidence.
The DRI has been investigating 40 powergenerating companies and traders for the past couple of years. It has flagged prominent public and private sector companies that are suspected to be inflating the import value of coal beyond that prevailing in the international market. According to the DRI alert, "the objective is to siphon off money ...
C Unnikrishnan Apr 8, 2016, 06:09 IST. MUMBAI: The Directorate of Revenue Intelligence (DRI) has issued a nationwide alert to its offices and customs formations to scrutinise coal imports for over ...
The Internet Computer token price has been on a downward trend since its launch in May ICP token price is trading at around 70 cents, down from its alltime high of This decline ...
On October 10, hearing a case regarding the alleged ove rinvoicing of Indonesian coal imported by the Adani Group, the Supreme Court clubbed the matter with another case related to alleged smuggling of dutyfree gold by a Hyderabadbased jeweller.. It was in November 2019, that the DRI had moved the apex court against a Bombay High Court order in favour of the Adani Group.
Amid an energy crisis, Germany turns to the world's dirtiest fossil fuel. The chimney of the Evonik coal plant in Marl, Germany, on Sept. 13. This coalfired power plant helps power a chemical ...
New Delhi: An expert panel constituted by the government has suggested that India has enough potential to produce hydrogen from domestic coal and the country should strongly pursue this option. This assumes significance in the wake of Prime Minister Narendra Modi annoucing hydrogen mission on India's 75th Independence Day. Hydrogen is a clean fuel and can serve as a possible substitute to ...
Existing DRI plants run on natural gas and thermal coal, and are mainly in the Middle East and North Africa, India, Russia and in the Americas region. A lack of lower cost gas supply in western Europe has so far limited DRI plants, even though new projects are mulled in Italy, Romania and Germany, even if they transition to hydrogen in future.
The Securities and Exchange Board of India (SEBI) has concealed a January 2014 DRI alert about Adani having siphoned off the money and invested it in Adanilisted companies through entities based ...
The hydrogenbased DRI steelmaking route is emerging both in Europe and worldwide as the preferred and potentially the most efficient path to carbon neutrality. In addition to Tata Steel Europe's moves in this direction, steelmaker ArcelorMittal and Liberty Steel Group are both developing hydrogenbased DRI steelmaking facilities in Europe.
By Parikshit Luthra Mar 13, 2023 3:04:51 PM IST (Published) The Finance Ministry on Monday informed Parliament that the Directorate of Revenue Intelligence (DRI) has concluded its investigations into the imports of Power Generation, Power Transmission, and Infrastructure (Port SEZ) equipment by Adani Group companies. The DRI has submitted its ...
Purchase A Guide to Dry Bulk Operations. Some cargoes require little monitoring during the loaded sea passage, but others should be monitored closely. Alumina and salt do not require much monitoring from ship's staff, but coal should be monitored daily. Failure to monitor when required can have catastrophic consequences and may even result in ...
A major scam involving several energy companies and traders, including some in the state sector, has been unearthed involving alleged overinvoicing of imported coal including through a tax haven to siphon off money abroad and charge higher power tariffs, according to DRI sources. The companies include some of the biggest names in the sector as also some state electricity boards and central ...
Coal is an important, widelyused source of energy and a chemical raw material, which is transported globally in large quantities; more than a billion tonnes of coal per year are transported by sea (IEA International Energy Agency, 2020). However, its carriage as a cargo is associated with a number of hazards and coal must be carried in ...
The average price of Indonesian coal with a gross calorific value of 3,8004,200 kCal/kg ranged between 38 and 49 a tonne on freeonboard (FOB) basis, according to most international indices.
Of the total DRI production in 2008, 74% was produced from coal in rotary kilns and 26% from natural gas in shaft furnaces. India is now the world's largest producer of DRI. Currently, there are two primary means of DRI production in India: smallscale rotary kilns using local coal and iron ore lump, and largescale shaft furnace plants ...
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The DRI probe against Adani and other companies began after the agency issued a general alert to its field formations across India in March 2016 outlining the modus operandi of overinvoicing of coal imports from Indonesia. DRI alleged that money was being "siphoned" outside the country and the electricitygenerating firms were availing of ...
ADEM alert is a compilation of public notices issued by the Alabama Department of Environmental Management (ADEM) in a given month.. It is ADEM's stated mission to assure a safe, healthful and ...
Coal or coal briquettes enter the meltergasifier dome and are converted to char at 1100°C1150°C. Oxygen is blown into the melter gasifier and a reduction gas, mainly CO and H 2, is generated by gasifying the coal, which is fed to the upper reactor(s), reducing the burden. The reduced iron ore or hot DRI is charged into the melter gasifier ...
The DRI had alleged that overvaluing of coal might have been done to help power companies get inflated tariffs for their generating stations. Edited by Chitranjan Kumar Published on: Oct 17, 2019 ...
On the last day of March, the Directorate of Revenue Intelligence (DRI), which comes under the Union Ministry of Finance, issued a "general alert" to fiftyodd customs establishments all over India highlighting the modus operandi of overinvoicing of imports of coal from Indonesia. The DRI has claimed that money was being "siphoned" outside the ...
However, the DRI has estimated 50 to 100% cost inflation on the imported coal. In an alert issued to various authorities, quoted by the AIPEF in its letter, the DRI had stated that this was being done for "(i) siphoningoff money abroad and (ii) to avail higher power tariff compensation based on artificially inflated cost of the imported coal."
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