Areva eyes equipment supply to BHEL, L&T
Bangalore: French nuclear power company Areva is in talks with the Indian Government and Indian companies like BHEL and L&T for possible supply of equipment to help "develop nuclear power activity" in India according to company officials.
According to the company 70 per cent of power requirements are met by nuclear energy in France.

Areva provides its clients technology solution for nuclear power generation and electricity transmission and distribution. Areva's T&D unit hopes to make India its "global hub for global engineering, exports, manpower and prototyping."

Company officials said Areva T&D India contributes about 9 per cent of Areva T&D's order intake and this is planned to grow to 14 per cent by 2010.

The instrument transformer plant will see an investment of over Rs100 crore and will employ around 300 people. This is the company's third manufacturing unit in Tamil Nadu and the ninth in the country.
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Zydus Cadila gets USFDA approval for new products
Ahmedabad: Cadila Healthcare (Zydus Cadila) has received three product approvals from the US Food and Drug Administration to market Benzonatate capsules in 100 and 200 mg, Naproxen tablets and a tentative approval for Amlodipine Besylate tablets in 2.5, 5 and 10 mg, the company said in a release here today.

The group will market all three drugs through its US subsidiary Zydus Pharmaceuticals (USA) Inc.
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L&T gets orders worth Rs990-cr
Mumbai: L&T has obtained two orders worth a total of over Rs990 crore. The Engineering Construction and Contracts division of the company secured a Rs114.4-crore contract from SAIL for turnkey construction of a gas-insulated substation as well as for an associated transmission network for SAIL's Bhilai steel plant in Chhattisgarh.

The second contract from ONGC, worth Rs877 crore, is for reconstruction and revamp of offshore facilities at ONGC's complex in Mumbai High and is among the largest brownfield projects of its kind awarded in the offshore oil and gas sector in India, said a release. This project will be executed on a lumpsum turnkey basis.
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RPG Life Sciences turns pharma, investment arms into separate companies
Mumbai: RPG Life Sciences (RPGLSL) has decided to turn its investment and pharmaceutical divisions into two separate companies with RPGLSL remaining the holding company. The move would not just clean up the pharmaceutical company's balance sheet, it would also help it attract funds to fuel further expansion.

According to company officials, the investments made by RPGLSL's pharma subsidiary, Instant Trading and Investment Company, were impacting the pharma business, which also required capital to grow. With these investments reflecting unfavourably on the balance sheet, it limited the ability to get funds from banks and investors for the pharma business.

The company's board of directors on Tuesday approved the proposal to create the two arms. The pharma company would be listed after the requisite legal and regulatory approvals are obtained.
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Fortis Healthcare may sign deal with Ansal for Fortis Medicity
New Delhi: Ansal Properties and Infrastructure and Fortis Healthcare are entering into an agreement for setting up Fortis Medicity in the real estate major's Sushant Golf City in Lucknow. The Fortis Medicity in Lucknow would have multi-speciality hospital and medical colleges, sources said. This is in addition to the Ranbaxy-promoted company's plans for a medicity in Gurgaon, where they are believed to have already been sanctioned land from the Haryana Government. Ansal API is the first real estate company to get the licence for development of a Hi-Tech City in Lucknow. Strategically located on the expressway connecting Lucknow Airport to Gomti Nagar, the proposed Ansal API Sushant Golf City is spread across 2,000 acres and would offer exclusive golf villas providing residential options.
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Praj Industries signs joint venture agreement with Aker Kvaerner
Pune: Ethanol plants specialist Praj Industries (PIL) and engineering and construction service company Aker Kvaerner have entered into a 60:40 joint venture company christened BioCnergy Europe B V today. The new entity will be headquartered at Zoetermeer, in Netherlands and will address business opportunities in ethanol and bio-diesel in Europe and offer a gamut of flexible solutions from turnkey, semi-turnkey to a single point responsibility.

PIL's existing facilities, including a new one coming up at Kandla, will be used to fabricate equipment required for projects.

The BioCnergy board will have two members each from the joint venture partners, and will be headed by Mr Ronald van der Vlist. Aker Kvaerner Netherlands B V is a wholly owned subsidiary of the $8-billion Aker Kvaerner ASA.
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Carlsberg enters India with Okocim Palone
Bangalore: Danish brewer Carlsberg's local subsidiary, South Asia Breweries, has chosen its east European brand, Okocim Palone, for its India debut. The global brewer will hold back the launch of its eponymous flagship beer, Carlsberg, in the country for the time being.

Okocim Palone, a Polish beer with less than 8 per cent alcohol is being launched in Himachal Pradesh with the excise administration being in Delhi.

It will be positioned as a strong beer against UB's Kingfisher Strong and SABMiller's Haywards 5000. Carlsberg has just completed the acquisition of Himneel brewery in Himachal Pradesh, and is coming up with a greenfield project in Rajasthan.

Palone will be Calsberg's first locally-bottled beer in India.
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Gas-pricing norm of RIL gets uncertain
New Delhi: Reliance Industries' price-discovery exercise for its gas from the Krishna-Godavari basin has become uncertain following the objections raised by the fertiliser ministry.

RIL's exercise was based on 10 "indicative" bids, of which five were from government-owned fertiliser companies. The fertilizer ministry has termed these bids as "void" since they do not have the approval of the ministry. The objection of the department of fertilisers has been communicated to the petroleum ministry.

RIL undertook a gas price discovery exercise in early May for its K-G gas, for which it had invited indicative bids from five fertiliser and five power companies. These are typically the largest consumers of gas in the country.

The price, after the 10 bids were opened, worked out to $4.79 per million British thermal unit (mBtu), sources said. This is much higher than the $2.4 per mbtu that the gas-based fertiliser plants are currently paying.

While the department of fertilisers is reluctant to accept a higher price of gas, which would put pressure on fertiliser prices (the fertiliser subsidy bill last year was Rs21,000 crore), its immediate objection is that the fertiliser companies do not have the permission to change to gas from naphtha as feedstock.

RIL's peak production from the K-G basin is projected at 80 million standard cubic metres per day (mscmd). Production is slated to start in June 2008 at an initial rate of 40 mscmd.

RIL has 40 mscmd of gas locked with Reliance Natural Resources Ltd and NTPC through a high court order, and it plans to use 6 mscmd of gas internally. Bids were invited for the balance 34 mscmd. The stance of the department of fertilisers means that RIL has effectively received bids for only 17 mscmd.
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