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Best Business Opportunities in Tripura- Identification and Selection of right Project, Thrust areas for Investment, Industry Startup and Entrepreneurship Projects

Tripura is a state in Northeast India. The third-smallest state in the country, it covers 10,491 km2 (4,051 sq mi) and is bordered by Bangladesh (East Bengal) to the north, south, and west, and the Indian states of Assam and Mizoram to the east. Tripura is a landlocked state in North East India. The state has a tropical savanna climate, designated Aw under the Köppen climate classification. The undulating topography leads to local variations, particularly in the hill ranges. The four main seasons are winter, from December to February; pre-monsoon or summer, from March to April; monsoon, from May to September; and post-monsoon, from October to November.

Tripura's gross state domestic product for 2010–11 was 129.47 billion (US$2.1 billion) at constant price (2004–05), recording 5.71 per cent growth over the previous year. In the same period, the GDP of India was 48778.42 billion (US$790 billion), with a growth rate of 8.55 per cent. Tripura is an agrarian state with more than half of the population dependent on agriculture and allied activities. However, due to hilly terrain and forest cover, only 27 per cent of the land is available for cultivation. Rice, the major crop of the state, is cultivated in 91 per cent of the cropped area.

TOURISM

Tripura has a geographical area of about 10,492 sq. km. almost two-thirds of the state is under hilly terrain and it is surrounded on three sides by the deltaic basin of Bangladesh. The Tripura tribal’s are divided into two groups: Puran Tripuras and Natun Tripuras. The Puran Tripuras are the original inhabitants of the State and constitute a little over 16% of the total and 57% of the tribal population of the State. The Department of Tourism, Govt. of India, under the ministry of Tourism and Culture has been providing liberal financial and technical support for the tourism development in the state based on the projects received from the states. It is quite clear that Tripura has tremendous and quite unique tourism potential. This could be tapped mainly through the concept of Eco-tourism and Heritage tourism. Nature / wildlife tourism, adventure tourism, rural tourism, leisure tourism, pilgrimage tourism, international border tourism could be some special tourist packages. The Tourism Development in the Northeast region will depend on integrated approach, involving various government departments, private entrepreneurs, voluntary organizations and local community. This approach will also help in evolving local people’s perception towards tourism development as a strong tool for socio-economic up liftment.

INDUSTRIAL SECTOR

The State Government offers a package of incentives for setting up of industrial units, which is comparable to other states. Besides, the special incentive package i.e. North East Industrial and Investment Promotion Policy (NEIIP) declared by the Government of India for the North East Region is available to industrial units.

State Package of Incentives under Tripura Industrial Investment Promotion Incentive Scheme-

•                    Capital Investment Subsidy @ 30% and additional subsidy @ 2.5% for enterprises of ST, SC, & women individuals on Fixed Capital Investment.

•                    Full Reimbursement of Standard Certification Fees /Charges / other expenses on account of obtaining a standard Certification.

•                    Provides State Transport Subsidy for covering the portion for which Central Transport Subsidy is not available

•                    85% Exemption from the payment of Earnest Money and Security Deposits on tenders floated by State Govt. Department / Agencies.

Incentives declared by Central Government:

•                    Exemption of Excise Duty on finished products.

•                    Central Transport Subsidy.

•                    Income Tax Benefit.

•                    Capital Investment Subsidy.

•                    Comprehensive Insurance Scheme for insurance coverage. Subsidies to service sector, bio-technology and power generating industries.

INVESTMENT OPPORTUNITIES

Tripura offers an investor-friendly environment. The Government welcomes investments into the State, from both domestic and foreign investors.

•        Natural gas

Tripura has vast reserves of natural gas in non-associate form. The gas is of high quality, with high methane content of up to 97%. The availability of superior quality natural gas, at concessional price, offers a great opportunity to prospective investors, to set up gas-based industrial units, using natural gas

•        Information Technology (IT)

Tripura has been considered the second best IT destination in the North East. IT sector (including IT-enabled services) has been identified as one of the major potential growth sectors by the state. The high literacy rate of the State provides additional advantage for development of the sector.

•        Food Processing

The State government has identified food processing as a major thrust area. There is a vast potential for setting up of food processing units in the State. The agro-climatic conditions in Tripura are ideally suited for production of a large variety of horticultural crops.

•        Handicrafts

From time immemorial, Tripura has carved out a name for itself in the field of handicrafts. The gifted artisans produce wonderful objects of crafts from simple material like cane, bamboo and wood.

•        Tourism

Tripura is an attractive tourist destination. The state has a rich cultural heritage. There are number of historical Hindu and Buddhist sites.


INDUSTRIAL POLICY

•        To improve Basic as well Industrial Infrastructure.

•        Industrial Growth by attracting Private Investment.

•        To improve investment climate towards better regulation by removing barriers to competition.

•        Creation of hassle-free and congenial investment climate.

•        To bring significant increase in the State Domestic Product.

•        Widening of resources base of the state.

•        Development of connectivity (Internal road, railways and air & telecom).

•        Better social infrastructure Enabling Entrepreneurship -building capacities through entrepreneurial and technical skills, training and promotion of self-employment.

THRUST AREAS

•        Natural Gas

•        Food Processing

•        Rubber

•        Tea

•        Handicraft

•        Bamboo

•        Handloom

•        Tourism

•        Information Technology

•        Education

  •           Healthcare

The Department of Industries & Commerce was established to promote Village and Small-scale industries as well as medium and large scale industries in the State. While efforts are being made to promote entrepreneurship within the State, the outside investors in the public and private sectors are also encouraged both for their financial capabilities and technical expertise, for the medium and large-scale units. The major existing industrial area is the Industrial Growth Centre Complex at Bodhjungnagar which also includes Food Park, Rubber Park and Export Promotion Industrial Park. The other industrial sites near Agartala as the main business and industrial centres are Dukli, Arundhatinagar and Badharghat. The mineral resources are minor amounts of glass sands, limestone, plastic clay and hard rock and all of these materials are being used in varying degrees. Setting up of ceramic tiles unit and other mineral based industries are being encouraged in the private sector.

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Herbs Cultivation & Processing

In general use, herbs are plants with savory or aromatic properties that are used for flavoring and garnishing food, medicinal purposes, or for fragrances; excluding vegetables and other plants consumed for macronutrients. Culinary use typically distinguishes herbs from spices. Herbs generally refers to the leafy green or flowering parts of a plant (either fresh or dried), while spices are usually dried and produced from other parts of the plant, including seeds, bark, roots and fruits. Herbs have long been revered for both their medicinal and culinary value. They may cure colds, help you sleep and add flavor and zest to dinner. Fortunately for home gardeners, growing herbs is relatively easy. They thrive in just about any type of soil, do not require much fertilizer, and are not often bothered by insect or disease pests. Nowadays, a demanding work culture and busy lifestyles have forced consumers to opt for ready-to-eat meals or other ready-to-eat food items. Dried herbs allow customers to enjoy tasty and flavorful foods that consume less time for preparation. The increasing demand for processed foods such as snacks, pickles, beverages, and others has resulted in the rising demand for dried herbs that are used to enhance the flavor of these products. Dried herbs are readily available through various retail formats. This ease of access drives consumers toward using dried herbs even more. Dried herbs are small and easy to carry; the use of convenience packaging for dried herbs is also known to increase the demand among consumers. Consumers also are becoming readily open to international cuisines, flavors, and ingredients, which is influencing their eating habits in a big way. The strong influence from various cuisines and cultures is also resulting in the growth of the exotic dried herbs sector. Global Herbal Medicine Market Asia Pacific countries such as China followed by India accounts for the maximum market share due to its tradition of using the herbal system. Europe is the second largest market due to large disposable income and growing demand for natural therapies and remedies. The European market will be led by France followed by Germany. Asia pacific region will be the fastest region because of which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions. Global Herbal Medicine Market – Key Players: Himalaya Drug Company (India), Schwabe (Germany), Madaus (Spain), Arkopharman (France), Blackmores (Australia), Tsumura (Japan), Sheng Chang Pharmaceutical Company (Taiwan), Ricola AG (Switzerland), Zandu Pharmaceutical Works Ltd (India), Hamdard laboratories (India), Dabur (India), Patanjali Ayurved Ltd (India) China Herbs Company (U.S.), Nutraceutical International Corporation (U.S.), are some of the prominent players.
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Discontinuous Sandwich Panel Production

Discontinuous Sandwich Panel Production. Sandwich Panel Manufacturing Business Sandwich panels (sometimes referred to as composite panels or structural insulating panels (SIP)) consist of two layers of a rigid material bonded to either side of a lightweight core. The three components act together as a composite; that is, the combination of the characteristics of the components results in better performance than would be possible if they were acting alone. Features: • High thermal efficiency • High strength to weight ratio • Available in length upto 6 Mtrs. • Thickness range of 4o to 150 mm • Specially designed camlock type system for airtightness • Lightweight and easy to assemble • Relocatable-modular design • Maintenance free It is an aesthetic material used for surface cladding. They are seperated as roof, facade and cold room panels. Sandwich panel systems include the panels themselves, the joints between them, fixings (often concealed) and a support system. Market Outlook A sandwich panel is a structure made of layers of low density core inserted in between two relatively thin skin layers. This sandwich setup allows achieving mechanical performance with minimum weight. The most used materials for cores are polystyrene, polyurethane, phenolic aldehyde, mineral wool. Steel sandwich panel is generally used in constructions of roof, and wall. A sandwich panel consists of a core/insulating material of low density sandwiched between two layers of metal, bonded under pressure. The sandwich panel market is expected to witness a high growth rate during the forecast period, 2018 to 2023. The major end-user industries of sandwich panel market include industrial buildings, commercial buildings, cold storage facilities, warehouses, amongst others. Sandwich panels provide a quite level of thermal, sound, water insulation, and also prevents moisture condensation. The global sandwich panels market is predicted to exhibit a 7.04% CAGR from 2018 to 2023 (forecast period) owing to the high demand among real estate developers. Rise in infrastructural projects in developed and developing economies are likely to accelerate the market demand during the forecast period. Furthermore, the construction of special economic zones and commercial buildings owing to rapid industrialization is likely to augment the market size in the coming years. Buildings & construction is one of the major end-user industries driving the growth of sandwich panel market. With rapid industrialization in the emerging economies, the need for less time-consuming construction solutions is growing which in turn increases the demand for sandwich panels. Due to their easy installation property, sandwich panels are cost-effective and inexpensive when compared to other wall assemblies. The average growth in the global construction spending has been recorded at 8.1% in the last five years. Increasing awareness about the energy efficient buildings, improvement in thermal performance of sandwich panels and implementation of stringent energy conservation regulations are expected to be the major drivers for the growth of sandwich panel market during the forecast period. Increasing adoption of the sandwich panels for residential, commercial, and infrastructure development is expected to boost the market in the coming years. By type, the global market is segmented into glass wool, rock wool, polyurethane (PR)/polyisocyanurate (PIR) sandwich panels, expanded polystyrene (EPS) sandwich panels, and others. Major market applications include residential buildings, commercial buildings, industrial buildings, and cold storage. Rise in infrastructural projects in developed and developing economies are likely to accelerate the market demand during the forecast period. Furthermore, the construction of special economic zones and commercial buildings owing to rapid industrialization is likely to augment the market size in the coming years. Sandwich panels in India have been showing strong growth mainly in telecom shelters, cold chain and industrial buildings. In the Europe, Africa, Middle East (EAME) region, the market for polyurethane- cored sandwich panels has been growing rapidly over the last years and is currently estimated to be 130 million per annum. 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Fish Canning in Tins & Pouches

Canned fish are fish which have been processed, sealed in an airtight container such as a sealed tin can, and subjected to heat. Canning is a method of preserving food, and provides a typical shelf life ranging from one to five years. Fish have low acidity, levels at which microbes can flourish. From a public safety point of view, foods with low acidity (pH greater than 4.6) need sterilization under high temperature (116–130°C). To achieve temperatures above the boiling point requires pressurized cooking. An estimated 2.3 percent hike in global fish production combined with good market conditions around the world gave a significant boost to trade revenues in the first nine months of 2017. Aquaculture continues to increase its contribution to the world’s seafood supply, growing at a steady rate of about 4.5 percent to reach a total harvest of 83.6 million tonnes in 2017. Capture fisheries productions remain stable at some 90.4 million tonnes. The global canned seafood market size was estimated at USD 21.50 Billion. Increasing popularity of ready-to-eat seafood products due to improvement in distribution infrastructure is anticipated to drive the industry growth. In addition, factors such as changing life styles coupled with increasing affordability are likely to drive the industry growth over the next eight years. Demand for the product is likely to rise due to increased product consumption owing to health benefits coupled with the adoption of sustainable fish farming techniques adopted by the manufacturers. In addition, advantages offered by this product including extended shelf life, ease in cooking, are anticipated to drive growth.
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Asparagus Cultivation & Processing

Asparagus, or garden asparagus, folk name sparrow grass, scientific name Asparagus officinalis, is a spring vegetable, a flowering perennial plant species in the genus Asparagus. It was once classified in the lily family, like the related Allium species, onions and garlic, but the Liliaceae have been split and the onion-like plants are now in the family Amaryllidaceae and asparagus in the Asparagaceae. Sources differ as to the native range of Asparagus officinalis, but generally include most of Europe and western temperate Asia. It is widely cultivated as a vegetable crop. Asparagus is a vegetable that comes from the Asparagaceae family. There are more than 200 species within that plant family. Some species are grown as ornamental plants and others are used by florists in arrangements and corsages. Asparagus is one of the most nutritionally balanced plant-derived foods. Low in fat, cholesterol, and sodium, asparagus also has vitamin A (also known as retinol because it produces pigments in the retina), E (has strong antioxidant properties, meaning it reduces oxidative damage caused by oxygen, which can harm human tissue, cells, and organs), and K (which helps your blood clot), magnesium, zinc and selenium, as well as fiber, thiamin, riboflavin, niacin, vitamin B6, iron, copper, and manganese. The global asparagus market is rising every year because of the high demand for organic asparagus. Asparagus growers are striving to increase the yield they can obtain and this can largely be attributed to the thriving global asparagus export market. There is a rising demand for organic asparagus in the global asparagus market as well. The number of organic growers in the global asparagus market is rising every year. Asparagus growers are striving to increase the yields.
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Perfumery Chemicals (Synthetic & Natural)

Perfumeis a mixture of fragrant essential oils or aroma compounds, fixatives and solvents, used to give the human body, animals, food, objects, and living-spaces an agreeable scent. It is usually in liquid form and used to give a pleasant scent to a person's body. Ancient texts and archaeological excavations show the use of perfumes in some of the earliest human civilizations. Modern perfumery began in the late 19th century with the commercial synthesis of aroma compounds such as vanillin or coumarin, which allowed for the composition of perfumes with, smells previously unattainable solely from natural aromatics alone. Aroma chemicals, also known as fragrances and odorants are chemical compounds which consist of odor or smell. These compounds are volatile enough to travel through the olfactory system of the nose and cause odor. Unlike flavors which affect smell and taste, fragrances affect only smell. The nature of fragrances tends to be synthetic. Aroma chemicals can be found in food, wine, spices, essential oils, perfumes and fragrance oils. The Global Aroma Chemicals Market is accounted for $4.08 billion in 2016 and expected to grow at a CAGR of 6.8% to reach $6.48 billion by 2023. Factors like change in consumer preferences, healthy and green sustainability package among the consumers and growth in end user markets are boosting the market growth. High R&D cost and compliance with quality and regulatory standards will impede the market growth. Global market for aroma chemicals is expected to grow considerably owing to growing markets in Asia and South America. Growing demand for foods, cosmetics, personal care and household care products is expected to be the major driving factor for the growth of aroma chemicals market.
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Switch Mode Power Supply (SMPS)

A switched-mode power supply (switching-mode power supply, switch-mode power supply, switched power supply, SMPS, or switcher) is an electronic power supply that incorporates a switching regulator to convert electrical power efficiently. Like other power supplies, an SMPS transfers power from a DC or AC source (often mains power) to DC loads, such as a personal computer, while converting voltage and current characteristics. A switch mode power supply is a power converter that utilizes switching devices such as MOSFETs that continuously turn on and off at high frequency; and energy storage devices such as the capacitors and inductors to supply power during the non-conduction state of the switching device. The supplies have higher efficiencies of up to 90%, are small in size and widely used in computers and other sensitive electronic equipment. Power supply circuit plays an essential role in every electrical and electronic circuit to provide the electrical power to the owl circuit or loads like machines, computers, etc. These different loads require different forms of power at various ranges and characteristics. So, the power is converted into the desired form by using different power converters. Basically, different loads work with various types of power supplies like SMPS (switch mode power supply), AC power supply, AC to DC power supply, programmable power supply, high voltage power supply & uninterruptable power supply. Geographically, North America dominated switching power supply market due to higher usage and consumption of battery operated devices requiring switching power supply. North America was followed by Europe and Asia-Pacific as the second and third largest consumer of switching power supply. Asia Pacific is projected to have the fastest growth, owing to rapidly expanding customer base for the battery operated devices, especially in the major regional economies such as India and China in the region The overall power supply market is expected to grow from USD 25.00 billion in 2017 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Power supplies are being used in many verticals such as lighting, telecommunications, consumer electronics, medical & healthcare, industrial, food & beverages, transportation, and military & aerospace.
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LPG Cylinder Regulators (Domestic Purpose)

Gas regulators automatically modulate high pressure gas to a maximum pre-determined limit. LPG (propane) gas regulators reduce the LPG pressure delivered to the gas appliances from the gas bottles. The pressure within a gas bottle can be 800-900kPa vs the 2.75kPa typically required. LPG gas regulators are usually factory pre-set to the standard operating pressure for the appliances. The main purpose of an LPG gas regulator is to reduce gas bottle pressures which can be around 800-900kpa depending on the temperature down to a safe working pressure and have the ability to maintain the accepted pressure. Different regulators are used depending on the location along the gas pipeline; however the main reason is to be able to deliver a safe working pressure for the appliance to run correctly and efficiently. LPG consumption in India is forecast to surpass 35 MMT by FY26. North region dominated India LPG market over the past few years, and is further forecast to continue dominating the market through FY26. Liquefied petroleum gas (LPG) is a flammable mixture of various hydrocarbons, and majorly consists of propane and butane. LPG gas is colorless and odorless; and emits less quantity of CO2 when compared to petrol or diesel. Thus, LPG is extensively used as a cooking fuel, both in commercial and residential setups throughout the country. Application of LPG in the industrial sector is also increasing, owing to growing use of LPG as a feedstock in petrochemical plants in the country. Moreover, rising demand from transport segment and increasing consumption of LPG to produce various chemical components such as propylene, ethylene, butadiene, etc., is further anticipated to boost demand for LPG in the country in the coming years. Furthermore, increasing prices of naptha, rising LPG imports and expanding distribution network are anticipated to fuel consumption of LPG in India during FY17-FY26.
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Herbal Extraction

Herbal extracts are substances extracted from the plant using different solvents—some combination of water, alcohol, chemicals, or other liquid that works to draw out beneficial plant components. Although herbal extracts come in many forms, they have one common feature. Extracts represent naturally occurring phytochemicals (plant produced compounds) that have been removed from the inert structural material of the plant that produced them. The main advantage of using extracts over raw herb is that once extracted from the plant matrix, the phytochemicals bypass the need for digestion and are far more readily absorbable. India herbal extracts market has recorded phenomenal growth over the years with rising awareness among the people about the health benefits of consuming herbal products. Herbal extract market in India increased to INR ~ crore in FY’2017 from INR ~ crore in FY’2012, at a robust CAGR of ~% during the same period. Global herbal extracts market has been growing at a continuous pace because of its various health benefits and increasing awareness about side effects from using chemical based products. Even at the times of recession the demand of herbal products is not much affected as people desire to maintain their health when the treatments are costlier. Herbal extracts are substances which are obtained by crushing, distilling, comminuting, and juicing various herbs. The processes are designed to maximum the potency of a particular herb. The global herbal extracts market is predicted to exhibit a 7.52% CAGR from 2018 to 2023. The herbal plants with several medicinal properties are used to treat a variety of disease conditions. Furthermore, a single plant may contain many chemical constituents such as phenols, glycosides, polysaccharides, alkaloids, resins, and terpenoids which demonstrate therapeutic activities in more than one medical conditions.
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Hydraulic and Pneumatic Items

Hydraulic Hydraulics is a technology and applied science using engineering, chemistry, and other sciences involving the mechanical properties and use of liquids. At a very basic level, hydraulics is the liquid counterpart of pneumatics, which concerns gases. Fluid mechanics provides the theoretical foundation for hydraulics, which focuses on the applied engineering using the properties of fluids. In its fluid power applications, hydraulics is used for the generation, control, and transmission of power by the use of pressurized liquids. On the basis of base oil, the hydraulic fluid market has been segmented into mineral oil, synthetic oil (PAO, PAG, Esters, and Group IV), semi-synthetic oil, and bio-based oil. The mineral oil segment is projected to lead the hydraulic fluid market during the forecast period due to its easy availability and low cost. Hydraulics is a technology involving the mechanical properties, which operates through the force of liquid pressure. In a Hydraulic system, Hydraulic Fluid is used as an energy transfer medium. It is also useful in other applications such as heat transfer, sealing, contamination removal, corrosion resistance, and lubrication. This industry’s future growth path is determined by high demand in oil & gas, automobile, marine¸ aircraft, industrial machinery, construction, and others industries. Global Hydraulic Fluid Market is expected to witness a significant growth of USD 4,317.10 million by 2023, with CAGR of 2.57% during forecasted period. Pneumatics Items Pneumatics is a branch of engineering that makes use of gas or pressurized air. Pneumatic systems used in industry are commonly powered by compressed air or compressed inert gases. A centrally located and electrically powered compressor powers cylinders, air motors, and other pneumatic devices. A pneumatic system controlled through manual or automatic solenoid valves is selected when it provides a lower cost, more flexible, or safer alternative to electric motors and actuators. Pneumatics is the technology of compressed air, but in some circles, it is more fashionable to refer to it as a type of automation control. Pressurized gas—generally air that may be either of the dry or lubricated type—is used to actuate an end effector and do work. End effectors can range from the common cylinder to more application-specific devices such as grippers or air springs. Vacuum systems, also in the pneumatic realm, use vacuum generators and cups to handle delicate operations, such as lifting and moving large sheets of glass or delicate objects such as eggs. The global pneumatic equipment market will grow moderately during the forecast period and post a CAGR of almost 5% by 2020. In addition to their applications in several industries, pneumatic tools are gradually acquiring significant application in food processing and medical applications as well.
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Jute Batching Oil

Jute batching oil (JBO-P), a mineral oil fraction used in the processing of jute fibers. JBO is mainly used as Jute Batching Oil in the jute industry to make the jute fibers pliable. JBO is also used by processors to produce various industrial oils. Jute materials are used in packaging of food material, presence of heavier Oil (which may contain carcinogenic compounds) are not desirable. JBO is also used as Wash Oil by the Steel Plants for recovering aromatic products from the coke oven gas.
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Information
  • One Lac / Lakh / Lakhs is equivalent to one hundred thousand (100,000)
  • One Crore is equivalent to ten million (10,000,000)
  • T.C.I is Total Capital Investment
  • We can modify the project capacity and project cost as per your requirement.
  • We can also prepare project report on any subject as per your requirement.
  • Caution: The project's cost, capacity and return are subject to change without any notice. Future projects may have different values of project cost, capacity or return.

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