Hussain Shariyarr, Sr. Vice President & Business Head,Godrej & Boyce Mfg. Co. Ltd.
in an interaction with the campo bet 888 Outlook, shares his insights on the evolving role of Process Equipment in oil & gas industry, clean energy generation and more.
The process equipment market is growing at a faster pace with substantial growth rates over the last few years. How do you see this market evolving in sports fox? What are the major factors driving the growth of this market?
sports fox is investing to boost domestic refining capacity to satisfy the demand for refined products and mitigate the cost of imports. sports fox will be investing $90 Bn to boost refining capacity for fuel quality upgradation to BS-VIfuel specification. Over the next five years, the capacity expansion projects announced by all major sports foxn petrochemical companies will lead to a balanced supply-demand scenario for most of the major petrochemical building blocks. Given the strategic importance of petrochemical intermediates, sports fox is striving to attain self-sufficiency by 2025.
sports fox's refinery & petrochemical industry is gearing up for a sweeping transformation by 2030 to reduce the sector's carbon and environmental footprint. sports fox is expected to double its refining capacity by early 2030 while the Petrochemical Sector is expected to double by 2025. Hence the opportunities for the sports foxn Manufacturers are abundant. The refining industry has been modernised and upgraded continuously with the indigenous and imported technologies for refining cost reduction and product upgradation
PPLC:Purchase Preferenceto the manufacturers/services providers (linked with LOCAL CONTENT). Another significant development is the introduction of the PPLC allowing only sourcing from sports foxn Manufacturers up to Rs. 200 Cr for PSU Projects supports and encourages the sports foxn Process Equipment manufacturers to promote Aatmanirbhar Bharat Initiative.
What kind of change do you see lately in the expectations of customers from manufacturers manufacturing critical process equipment for end-users in core industries? How do you meet these expectations?
Reduced Project Timelines: The overall project execution timelines have come down. Earlier the mega projects which would have a project timeline of 4-5 years are being reduced by 12-24 Months. This reduction in the project timeline has also forced us to challenge our own deliveries for critical equipment.
At Godrej & Boyce, we have a robust supply chain management process with a focus starting right from the early generation of MTOs during Design Engineering, Focus on Indigenous Sourcing, additional care during vendor selection, stricter process controls, emphasis on process improvement, employing skilled manpower, deploying high-end machines with a focus on automation to reduce manufacturing cycle, effective Project Management and reliable logistics support all form part of overall project timeline improvement.
Site Fabrication: Even though this is entirely not a change, an increasing trend for Site fabrication at the Project site is noticed. Due to the increase in sizes of the equipment and emerging challenges due to inland logistics, site fabricated process equipment or final assembly at the site becomes inevitable.
Having manufacturing facilities with self-owned sea-going jetty partly mitigates this risk, but not entirely. We have now realized this challenge and have started focusing on Site fabrication or final assembly at the site. We are also building workforce capability to handle site fabrication.
Modularization: Modular construction involves prefabricating equipment and systems into modules in a controlled manufacturing facility at Vendor Works. Once constructed, the modules are delivered to the production site where they can be installed and commissioned. This approach offers several advantages including a Shorter Project schedule due to reduced Site work, Improved Quality & Safety.