22% SAFEGUARD DUTY MOOTED FOR PROPYLENE GLYCOL IMPORTS

Article Abstract:

A 22 percent safeguard duty on imports of propylene glycol has been proposed by the Directorate-General of Safeguard (DGS). The recommendation made by DGS is according to the World Trade Organisation's (WTO) norms for offering time-bound protection to the local industry against the harm caused by the imports. DGS has suggested a 22 percent safeguard duty for the first 12 months and 11 percent duty for the next 6 months. The local industry will get 57 percent protection in the first 12 months and 46 percent protection in the next 6 months. Manali Petrochemicals Ltd, Spic Organics Ltd and Madras Refineries Ltd will be the 3 main beneficiaries of the proposal. During April-August, 1997-98, India produced 5,553 tonnes of propylene glycol (9,939 tonnes in 1994-95). The exports grew to 31.4 percent (8.5 percent). (ag)

Comment:

India: Directorate-General of Safeguard proposes a 22% safeguard duty on imports of propylene glycol

International economic relations, Propylene Glycol, Article

IMPORTS OF FINISHED STEEL SLIDE SHARPLY

Article Abstract:

The imports of finished steel has declined by about 35.2 percent during April 1998 to January 1999. The fall in imports has helped steel producers to reduce their stocks. The consumption of finished steel has shown a growth of only 0.7 percent in the first ten months of 1998-99. The imports of finished steel is estimated at 9 lakh tonnes during the first ten months of 1998-99 compared to 13.88 lakh tonnes during the first ten months of 1997- 98. The government's imposition of a minimum price of $302 per tonne for hot rolled coils in November 1998 has almost stopped its imports. (khr)

Iron and Steel Mills, Imports, Blast furnaces and steel mills, Steel Mill Products, Steel products

RCF, BELGIUM CO IN 50:50 VENTURE FOR METHYLAMINES

Article Abstract:

Rashtriya Chemicals and Fertilisers (RCF) has signed a pact with UCB sa (UCB) of Belgium to establish a 50:50 joint venture to manufacture methylamines. Both RCF and UCB will together invest Rs60 crore in the joint venture in 6 years. RCF's methylamines plant at Thal in Maharashtra will be transferred to the joint venture. The capacity of the plant will be raised to 33,000 tonnes per annum by 2005 AD. (gs)

Comment:

Rashtriya Chemicals and Fertilisers (RCF) has signed a pact with UCB sa (UCB) of Belgium to establish a 50:50 joint venture to manufacture methylamines.

Product development, Belgium, Methylamines, UCB S.A., Rashtriya Chemicals and Fertilizers