New Delhi, Nov. 29
To help corporates assess losses due to corrosion and suggest ways to curtail them, the Confederation of Indian Industry is starting an audit programme soon.
Corrosion in chemical plants and metal fittings, pipes and equipment costs the nation an estimated Rs 55,000 crore annually, according to the Central Statistical Organisation.
This does not include household losses.
"Corporates hardly do an assessment of the losses by way of corrosion over the entire lifetime of an equipment.
"They only write off in their balance sheets the overall amount that they have suffered in that year due to corrosion," said Dr Sarita Nagpal, Head Manufacturing Services Division, CII.
The chamber will sign a memorandum of understanding with the Centre of Electro Chemical Research Institute to partner for expertise in the subject and also to conduct the audits.
It will seek expertise from some Indian Institutes of Technology, including IIT-Roorkee.
The chamber will focus on the small and medium enterprises for the programme.
"The SME sector does not have significant access to technology and any curtailment of these losses will directly affect their bottom line,' said Dr Nagpal.
The CII aims to conduct audits for about 100 companies in the next two years.
To start with, it will shortly conduct the audit for Samtel's picture tube manufacturing facility in Ghaziabad and its glass factory in Kota.
It also plans to expand the reach to the residential sector and would talk to Delhi Jal Board for the purpose.