VISAKHAPATNAM FACILITY
Biocon gets 4 observations from USFDA for Andhra Pradesh facility
Biocon received four observations from the US health regulator after a GMP inspection at its API facility in Andhra Pradesh.
US FDA inspects Vishakhapatnam facility of Solara Active Pharma
The US Food and Drug Administration (FDA) completes inspection of Solara Active Pharma Sciences' API manufacturing facility in Visakhapatnam, Andhra Pradesh, with no observations. Solara confirms compliance with FDA standards. The facility, dedicated to Ibuprofen API production, marks Solara's second successful FDA inspection. The company aims for global market expansion with FDA-approved facilities.
Edelweiss fund to back Matrix Lab founder's buyout of Viatris API biz
Kotak is lending $150 million (₹1,250 crore) under a mezzanine debt facility to Prasad at 18-20% and arranging an additional $300 million from other lenders including Edelweiss Domestic Performing Credit Fund, two people close to the development said. The Edelweiss fund is lending the money, a senior debt facility, at 10-11%.
Coromandel International to invest Rs 1,000 cr to set up plant in Andhra Pradesh
Coromandel International, which is mainly in the fertiliser business, will invest Rs 1,000 crore to set up a plant to produce phosphoric and sulphuric acid at Kakinada in Andhra Pradesh. In a regulatory filing, the company said it has "commenced the project activity to set up its Phosphoric Acid-Sulphuric Acid complex facility at Kakinada".
NTPC arm NGEL inks pact with AP to develop India's largest green hydrogen production facility
The project includes construction of India's largest green hydrogen production facility (1200 TPD tonne per day), which will be converted to derivatives of hydrogen such as green ammonia and green methanol, primarily catering to various export markets.
GMR Airports raises ₹800 cr from Standard Chartered, Aditya Birla Fund & Varde Partners
GMR Airports secures a ₹800 crore debt facility from a consortium involving Standard Chartered Bank, Varde Partners, and Aditya Birla Special Situation Fund. This funding marks a part of the ongoing capital raising efforts by GMR Airports and its subsidiaries, totaling over ₹8,400 crore since November. The proceeds will be utilized for refinancing existing debt and investments across various airport-related ventures. The consortium investments aim to support GMR's strategic airport development initiatives across India and other international locations.
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Blackstone to buy controlling stakes in CARE Hospitals, KIMS health for $1 bn
Global private equity firm Blackstone is set to invest approximately $1 billion to acquire controlling stakes in two major South Indian hospital chains, CARE Hospitals and KIMS Health. The transactions make Blackstone the fourth largest hospital group in India and mark the firm's entry into India's healthcare sector.
ISRO, Navy conduct harbour recovery trials for Gaganyaan human spaceflight mission
Recovery trial operations of the Gaganyaan mission has entered into the second phase with the commencement of harbour trials at the Naval Dockyard, Visakhapatnam. Indian Space Research Organisatio (ISRO) and Indian Navy jointly carried out the trials on July 20 with the ship identified for the recovery operations during the first Development Mission of the Test Vehicle.
As interest grows in BrahMos missile systems, here's why it is the future of defence capabilities
Argentina's interest in acquiring cruise missiles, specifically the BrahMos system, reflects its commitment to modernizing its defense infrastructure. As Argentina engages in talks with Indian officials, the potential for collaboration in this domain is promising.
Govt working to upgrade ports, give e-visa facilities to promote cruise tourism in India: G Kishan Reddy
Today, the Ministry of Tourism through central financial assistance scheme has been supporting tourism infrastructure development-related projects, whether it is ports, cruise terminals, development of light houses, purchase of ferries, development of river cruise circuits, the Union tourism and culture minister said.
HPCL plans to set up its third LPG cavern in Gujarat
The facility will be set up in Vadodara, Gujarat with a capacity to store 60,000 tonnes of LPG, according to two officials aware of the development. HPCL plans to spend up to Rs 1000 crore in setting up of the cavern.
Cong questions govt over IOC's 'unfavourable' contract to hire Adani-owned port for LPG imports
The Congress on Friday alleged that the Indian Oil Corporation (IOC) had been importing LPG via the government-run Visakhapatnam Port but was now being made to use the Adani-owned Gangavaram Port through an "unfavourable" contract.
Tata Steel may not have to add debt to fund acquisitions: MD TV Narendran
"Honestly, if we were to raise (capital), it would only be for refinancing," Narendran said about the company's capital market plans. "From our own growth ambitions, we want to grow as well as reduce our debt." At the end of December, Tata Steel had a net debt of ₹71,706 crore, translating to a net debt to ebitda ratio of 1.76. It has committed to keep the ratio under 2 over the medium term across commodity price cycles.
HPCL's dependence on other refiners to drop by 15% after vizag unit expansion
The capacity of Visakhapatnam refinery will rise to 15 million tonnes a year from the current 8.5 million tonnes a year by June, HPCL Chairman Pushp Kumar Joshi said. The refinery will likely stabilize and start operating at full capacity by December, he added.
PM Modi flags off Vande Bharat train service between Secunderabad-Vizag, hails its Made in India
The first Vande Bharat Express train to operate between the two Telugu states will run between Secunderabad and Visakhapatnam in eight hours and 30 minutes. As the event coincided with the Army Day, the Prime Minister paid rich tributes to the serving and retired personnel and hailed their commitment in protecting the country and its borders and said their valour was matchless.
India's Laurus Labs says four employees died in fire incident
The company, which specializes in anti-retroviral, hepatitis C and oncology drugs, said it has launched an investigation, without giving any other specifics about the incident.
Siemens lowest bidder for manufacturing 1,200 electric locomotives worth Rs 20,000 crore
Prime Minister Narendra Modi in April laid the foundation stone for the manufacturing project of 9,000 HP electric locomotives at the Railway production unit in Dahod.
PM Modi opens onshore facilities of ONGC's U-field in KG block
The project was dedicated to the nation along with the inauguration/foundation-stone laying of various other development projects worth over Rs 10,700 crore in Visakhapatnam, Andhra Pradesh, a company statement said.
PM lays foundation stone for redevelopment of Vizag Railway station
Prime Minister Narendra Modi on Saturday laid the foundation stone for the ambitious redevelopment project of Visakhapatnam Railway station. The Rs 446 crore project taken up by the Rail Land Development Authority assumes significance as Visakhapatnam will soon transform into the headquarters of new South Coastal Railway Zone.
PM Modi to embark on two-day visit to four southern states today
PM Modi will visit Karnataka, Tamil Nadu, Andhra Pradesh and Telangana on November 11 and 12. According to the Prime Minister's Office, on November 11, at around 9:45 am, the Prime Minister will pay floral tributes to the statues of saint poet Sri Kanaka Dasa and also to Maharshi Valmiki at Vidhana Soudha, Bengaluru.
Defence Minister Rajnath Singh visits BDL facility in Hyderabad, virtually opens many facilities
In his address, defence minister Rajnath Singh said the contribution being made by BDL to make the country 'Atmanirbhar' in defence is commendable.
Global companies keen to develop Railways' Gujarat loco facility
The trains are to be supplied over an 11-year period from 2023-24 to 2033-34 at the existing rolling stock workshop in Dahod. The workshop was established in 1926 for the periodic overhaul of steam locomotives. It will be upgraded to electric locomotive manufacturing unit with infrastructural improvements.
Global captives expected to ramp up hiring in small towns
Companies like Uber, Mastercard, Bank of America, Schlumberger and Bosch already run their global captive units in tier II towns like Visakhapatnam, Vadodara, Gandhinagar and Coimbatore
India Covid crisis hits work at its biggest ports as risk to trade grows
India has 21.9 million tons of cargoes scheduled to arrive this month but with labor shortages and force majeure at some ports, many of the vessels could see discharge delays, according to IHS Markit associate director Pranay Shukla. That may have a knock-on effect on scheduled loadings at the exporting countries.
Sarda Energy & Minerals' arm to invest Rs 135 cr for capacity expansion
The expansion project of Ferro Alloys entails adding one more furnace of 36 MVA (with capacity addition of 50,000 MT pa) at its existing facility located at Vizianagaram, near Visakhapatnam, with an estimated capex of Rs 135 crore, the filing added.
Indian Railways’ Oxygen Express reaches Maharashtra, Uttar Pradesh towns
Apart from the rail mode of transport, some empty cryogenic tankers from Pune were airlifted to Jamshedpur, West Bengal, Bhubaneswar and Cuttack to fill in oxygen. Two flights with 3-4 containers reached Delhi on Friday and the entire process took about 2-3 hours.
Logistical issues hamper smooth supply of liquid oxygen from steel companies
Jindal Steel & Power said it has more than 500 tonnes of liquid oxygen stock readily available at its Angul plant in Odisha. “We are waiting for the users to send their tankers,” the company tweeted on Thursday.
Natco Pharma gets USFDA approval for Visakhapatnam facility
Hyderabad-based Natco Pharma Ltd on Tuesday said it has received the final approval from the US health regulator for its first supplemental abbreviated new drug application (sANDA) filed from its new drug formulations facility at Visakhapatnam, Andhra Pradesh.
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