Financial Daily from THE HINDU group of publications Wednesday, Apr 07, 2004 |
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Corporate
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Awards & Honours Award for Orchid Chemicals Our Bureau
CHENNAI: The Rotary Club of Madras on Tuesday presented Orchid Chemicals & Pharmaceuticals with its `Environment & Community Service Award' for 2003-04 in recognition of the company's work to protect the environment around its factory and improve the lives of surrounding communities. The club's President, Mr D. Sudhakara Reddy, said a committee chose Orchid for the award out of a shortlist of companies. Orchid's Managing Director, Mr K. Raghavendra Rao, who presented details of the company's environment and social responsibility policies to the assembled Rotarians, said the aim was to follow standards that were more stringent than those prescribed by the law. Mr Rao said the company had spent $14 million (around Rs 61 crore) over the last decade to buy equipment to meet its self-imposed environmental goals. He felt the company's "internal value system" provided the motive force to set itself tough environmental benchmarks. Orchid's concern for its immediate surrounding also extended to the community, said Mr Rao. The company had adopted eight villages in the area around its factory located at Alathur in Kancheepuram district. The aim was to improve the quality of lives in relation to what they had earlier experienced, he added. Mr Rao identified the improvement in school educational standards in Thiruporur as a successful example of the impact of the company's intervention. He added the success rate of selected schools in Thiruporur had improved after Orchid had set up tuition centres for their students.
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