I attached part of the P&ID from my project.

Could anyone kindly tell why is the valves and blind flanges set there together? Is any reason behind this?

It looks like a spectacle blind that could be used to isolate the equipment for maintenance work.

We have many of these around our facility, in fact we have this arraignment on all of our  plate heat exchangers for ease in the cleaning and changing gaskets. 

unclesyd is correct about the "Blind" symbol.

You should find and study the "Legend" Sheet that normally is included with any set of P&IDs.

A. I think that the valve you are concerned about is a "Ball" Valve not a Globe Valve.

B. The "Spec Blind" at the Drain valve is installed in the closed position.

C. The "Spec Blind" in the Incoming Feed line is installed in the open position.

Another subject: i would add a second drain between the control valve and its downstream block valve, because, the control valve is fail close.

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