Cadila Pharmaceuticals has chalked out ambitious plans to set up close to eight units in its upcoming PhaEZ Park near Ahmedabad, which is touted to be the largest in India. The eight units will come up in a phased manner in a span of six to seven years.
Rupee appreciation has hit the pharma industry as exports for the financial year 2007-08 are estimated to rise a moderate 7 per cent against the targetted 30 per cent growth. Besides rupee appreciation, the dent in exports due to pricing pressure in the US, where a lot of products have gone off patent recently, also affected the exports.
The floor seems to be divided between realtors and Gujarat urban development authorities on the implentation of the New Integrated Township Policy. Township projects worth over Rs 10,000 crore (Rs 100 billion) in and around Ahmedabad have been left in a lurch due to this, according the real estate developers. Many developers who have already earmarked land for the townships feel that the policy is not yet implemented
Adani group has begun the spadework to come up with a mega initial public offering (IPO) aiming to raise about Rs 5,000 crore (Rs 50 billion) for setting up a power generation capacity of close to 10,000 megawatt in next five years. The company is chalking out investments plans for generating 1,320 mw power in Rajasthan and 2,000 mw at Dahej in Gujarat by 2012.
In line with its plans to set up greenfield projects outside India, Mukesh Ambani's Reliance group is considering setting up a polypropylene unit in Kuwait. The company already has operations in the Gulf states to market polypropylene. If this project fructifies, it will be Reliance's first unit outside India. Reliance Industries (RIL) is also looking to set up a refinery project in Kuwait. It has also signed an MoU with GAIL to explore for petrochemical plants outside India.
The company is, currently, testing its products along with BSNL for commercially rolling them out in India. The company plans to launch its products for one million BSNL lines in Ahmedabad and Bangalore in two months. Renovau has developed a product suite where video images can travel over internet on a bandwidth of as low as 128 kbps. The switch, developed by the company, will offer call routing, call management and billing solutions.
"We require eight million cubic metres for overall expansion which is almost half the gas available at Panna-Mukta-Tapi. At present, for the 655 mw, we are using three million cubic metres a day," said Rajiv Mishra, managing director of CLP Power India, which is a 100 per cent subsidiary of the Hong Kong-based CLP Group. The company had received the required environment clearance from the Gujarat Pollution Control Board in 2007.
A senior RIL executive confirmed this development, but refused to divulge further details. "There has been some research on producing ethanol from jethropa. However, the tests have not been confirmed," said a scientist who has been working with the Gujarat state government for studying crops in Kutch. Another view by the industry experts is that the sugar industry in South Gujarat is not finding enough takers for the ethanol produced.
Shell India is the second private sector petroleum company to review its expansion plans in India. The company has decided not to open any more petroleum outlets. The company has also asked some of its employees to start looking for another job. Shell has 50 petrol pumps across the country and has a licence to open 2,000 pumps.
"The tie-up with the ASE could either be an equity partnership or a technology tie-up, or both. The regulatory bodies have to clear the proposal and we also need approval from our members first," a top ASE official said on conditions of anonymity.
ASE Capital Markets, a subsidiary of The Ahmedabad Stock Exchange, the second oldest bourse in India, is selling a part of its holding in the Bombay Stock Exchange -- the second time in less than 12 months.
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