M&M signs agreement with Maha. Govt for Project Ingenio
Mumbai: Mahindra & Mahindra (M&M) has signed a memorandum of understanding (MoU) with the Maharashtra government to set up a manufacturing facility at Nashik. M&M will invest Rs550 crore in the project for its new multipurpose vehicle (MPV) platform Ingenio.

The new plant will increase the capacity at the company's existing plant at Nashik to 1,50,000 vehicles per annum and directly employ over 500 employees and give indirect employment to 2,500 people. The investment is declared as a Mega Project by the Maharashtra government as it involves an investment of Rs500 crore and provides employment to 1,000 people or more. The state government has therefore granted waiver from stamp duty, power purchase duty, exemption from octroi and other local taxes.

M&M will also invest another Rs200 crore for setting up a new engine manufacturing facility that will increase the number of engines made by the company to 800 engines per day from the existing 450.

The M&M group will also invest Rs1,000 in the Pune SEZ, Rs200 crore in the Thane SEZ, and Rs400 crore in the expansion of its IT arm Tech Mahindra. In whole, the group will invest nearly Rs2,500 crore in the next 2-3 years.
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ONGC to restart Hazira gas production on Aug 19
New Delhi: Oil and Natural Gas Corp (ONGC) will resume its Hazira gas plant in Gujarat on August 19, two-days ahead of schedule to avert a fuel supply crisis particularly for CNG operations in the national capital.

Hazira would restart production in phases - 6 million standard cubic meters per day to begin with.

The shutdown of the plant, which received 40.5 mmscmd gas from ONGC's Bassein and B-55 fields and ONGC-Reliance-BG operated Panna/Mukta and Tapti fields, cost ONGC Rs21 crore in revenues and Rs16-17 crore in profits per day.

Hazira, whose shutdown tripped half of India's gas supplies, would be back just in time before stocks for CNG operations in Delhi and some power plants run out.
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Jupiter Bio acquires Aurobindo unit in AP
Mumbai: Jupiter Bioscience has acquired a manufacturing facility from Aurobindo Pharma The unit is located in Medak district, Andhra Pradesh.

According to a press release from the company, "The acquisition is a part of the expansion programme of the company for commercialisation of speciality APIs, chiral intermediates and key organic intermediates and bulk peptide raw materials."
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Simplex Infra receives orders worth Rs5.77-bn
Mumbai: Indian construction firm Simplex Infrastructures said it had won orders worth Rs5.77 billion. Shares in the company rose 10 per cent to Rs1,501.60 in a firm Mumbai market.
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Cola cos get cleared in WB
Kolkata: West Bengal's Left Front government has cleared Coca-Cola and Pepsi's aerated beverages sold in India. It said the government laboratory had not found the drinks to be detrimental to health.

Biman Bose, chairman of the Left Front, said Pepsi and Coke's colas did not have anything not found in drinking water.
This is the first good news for Coke and Pepsi since August 1, when they were hit by an environment group's report that their drinks contained pesticides way above safe levels.

The Delhi-based Centre for Science & Environment (CSE) had also alleged that the government was dithering in setting the levels despite a similar finding by it released two years ago.
Bose, however, said samples of the beverages have been sent again for tests.
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Hutchison Telecom reports profits on back of Indian ops
Hong Kong: Hutchison Telecommunications International, the emerging markets phone arm of tycoon Li Ka-shing's Hutchison Whampoa, has reported profits in the first half of the year as revenues from its Indian operations made up for start up costs at its new operations in Indonesia and Vietnam. The company said its profit for the period stood at HK$644 million (US$82.6 million), against a loss of HK$220 million a year earlier. Its turnover was up 48 per cent to HK$15.67 billion.

HTIL's hopes to list its India business have been delayed in part by changes in regulations and the operation's ownership structure.

HTIL, which also has operations in Hong Kong, Thailand, Israel, Macau, Ghana and Sri Lanka, said on Wednesday that its profit attributable to shareholders for the six months through June totalled HK$2 million, compared with a loss of HK$370 million a year earlier.

Hutchison said its consolidated mobile phone user base rose 71 per cent from a year earlier to more than 23 million at the end of June, with particularly strong growth in India, where its customer base more than doubled to 17.5 million.

The company said it planned to invest HK$13.5 billion to HK$14.5 billion during 2006, mainly to build up its networks in India, Vietnam and Indonesia.
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Ranbaxy receives approval for HIV products
New Delhi: Ranbaxy Laboratories (RLL) has received approval from the government to manufacture and market two products, indicated for treatment of HIV infection in children. Ranbaxy can now manufacture and distribute Triviro-LNS kid and Triviro-LNS kid DS in the country.

HIV/AIDS, currently, kills about 500,000 children every year. The products are designed to deliver three antiretroviral drugs together in recommended strengths and simplify delivery of a more accurate treatment to children. Both the approved formulations are scored dispersible tablets, and are pleasantly flavored, the company said in a statement.

The company has also filed the product with WHO Geneva for pre-qualification.
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GE to supply fuel for Nuclear power
Kolkata: GE has been in discussions with the Nuclear Power Corporation of India (NPCIL), and intends to supply advanced boiling water reactor (ABWR) and economic simplified boiling water reactor (ESBWR) technologies to India.

The company said it has two technologies that would fit India's requirements. The first is the ABWR the only Generation-III reactor technology that has been developed, approved, built and operated in the world. GE also holds the technology for ESBWR which is based on the ABWR technology platform with some key evolution that will improve operational efficiency, safety and economics. It entails lower construction and operational costs.

The design is currently undergoing review by the Nuclear Regulatory Commission in the US. Final Design Approval is expected by '08, but the design is already being developed for two US utilities.

GE has supplied ABWR technology to Japan and Taiwan and has four ABWR plants which are operating, while three more are under construction, and 14 are at planning stage in Japan and the US.

GE Nuclear is primarily looking at four principal areas of opportunities in India, including building reactors. It's keen on supplying fuel for these reactors, along with parts and services, to maintain and improve plant performance.
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Orchid gets USFDA nod for Cefotaxime
Mumbai: Orchid Chemicals & Pharmaceuticals has received formal approval from the USFDA for 3 of its ANDAs (Abbreviated New Drug Applications) for Cefotaxime for injection in various dosage forms. These pertain to 500mg, 1gm and 2gm single-dose vials, 1gm and 2gm piggyback vials and 10gm pharmacy bulk package vials. Cefotaxime is the generic version of Sanofi Aventis' Claforan. Orchid would launch this product in the US through its exclusive distribution partner, Apotex.

Though a mature off-patent product, Cefotaxime has limited competition thus enabling a notable market-share and revenue stream for Orchid.

Orchid has filed 31 ANDAs with the USFDA till date and the number of ANDAs approved by the USFDA stands at 15.
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