Coal news and updates

Competitive sourcing is the need of the hour: Phoenix Conveyor Belt India

December 2: The global economic crisis has enhanced the need for competitive sourcing of input materials to a large extent for companies like us, said Smita Pandit (Chakraborty), Managing Director, Phoenix Conveyor Belt India Pvt. Ltd. to ICMW on the sidelines of a conference held recently in Kolkata.

"We are primarily hit by the liquidity crunch in terms of receivables due to sharp depreciation of Indian Rupee with respect to USD and Euro. Hence, we are now focusing on export market and competitive sourcing of inputs to tide over the crisis," she added.

When inquired about the status of the projects Phoenix has in hands right now, she said, overall market conditions although is dull at present but projects are not absolutely standstill. They are moving slowly. However, maximum delay is occurring in case of steel and power projects.

Phoenix Conveyor Belt India Pvt. Ltd., whose exports constitute about 20-25% of the total production is currently operating at 95% of the total installed capacity. However, the company is optimistic about the export market and expects the same to improve in the coming days, Pandit added.