drug deal: The pharmaceutical major, Ranbaxy has planned to launch 25 brands worldwide in coming seven years. The company is also targeting drugs that would come off patents during this period. These drugs have a market value of US $40 million, say the company officials. Recently, Ranbaxy failed to have an alliance with Eli Lilly to market its product in the US. Since then it is focusing on new partnerships. The company plans to increase investment for research work from 5 per cent to 6.5 per cent of total turnover in the next one year.
power hungry: The Oil and Natural Gas Corporation (ONGC) is diversifying into power sector. In this regard, ONGC has planned to join hands with the National Thermal Power Corporation to set a 300 MW power plant at Hazira near Surat, Gujarat. Both the Public Sector Undertakings have singed a memorandum of Understanding. ONGC has registered a net profit of Rs 2,425 crore in the financial year 1997-98, thereby registering a growth of 19.2 per cent over 1996-97 fiscal.
coal power: Coal India Ltd (CIL) and Steel Authority of India Ltd (SAIL) have entered into an agreement for supply of coal. CIL has agreed to supply 7.3 million tonnes of washed plus direct feed cocking coal to SAIL annually, say officials. The conditions of the agreement include provisions for improving ash content in coal supplies with a penalty clause in case of failure to maintain the desired ash content limit. But in the terminal year of the Ninth Plan, the total demand of coal from the steel sector is 49.6 million tonnes whereas the supply from indigenous sources is 34.75 million tonnes.
for gas supply: Unocal, a US-based company, would invest US $2 billion in West Bengal for supply of natural gas in the state. The company has recently launched Project Energy Renaissance (PER) to develop an anchor market in West Bengal and link it to natural gas supplies from neighbouring countries like Bangladesh and Myanmar and from the north-eastern state of Tripura. The company expects to begin by the year 2003. As part of the PER project, Unocal will lay pipelines to supply around 14 million cubic metre per day of natural gas to industrial centres in West Bengal.
care for cancer: Canada-based SNC Lavel, a consultant in power projects for the Kerala State Electricity Board (KSEB), would set up a cancer care centre at Thalassery in north Kerala. The Rs 103 crore Malabar Cancer Care Centre would be one of the most advanced in India and the first one to be under the state department of power, at least initially, according to KSEB officials. Part of the funds for the cancer centre would be provided by the social development component of the funds. The Canadian International Development Agency has already advanced KSEB for three hydroelectric power projects at Pallivasal, Panniyar and Sengulam.
plan stalled: British Petroleum Co has delayed plans to build a petrochemical project in West Java, Indonesia. The petroleum cracker costing between US 800 million and US $1 billion, had to start operations by the year. Jim Hay, director of BP Chemicals Limited, said that Indonesia's financial crisis has led to reformulate the company's strategy. The proposed plant is the second planned large Indonesian petrochemicals project to be affected by the country's economic crisis.
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