Financial Daily from THE HINDU group of publications
Wednesday, Jun 01, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 01, 2005 |
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Corporate
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New Projects Industry & Economy - Infrastructure French chem company gets land in pharma city in Vizag Our Bureau
Hyderabad , May 31 SNF (India) Private Ltd, a 100 per cent subsidiary of SNF Floerger, has become the first allottee of land in the Jawaharlal Nehru Pharma City (JNPC) coming up in Visakhapatnam. SNF Floerger, a French multinational company, is a major producer of speciality chemicals. The company has been provided 42 acres. SNF (India) plans to invest up to Rs 150 crore in the facility. The project is expected to be commissioned by the end of 2006. It would provide employment to 1,000, both directly and indirectly. The Chairman of SNF (India), Dr Prasad Mulukutla, would receive the allotment letter from the Chief Minister, Dr Y.S. Rajasekhara Reddy. At present, the company has a small facility in Patancheru, on the outskirts of Hyderabad. The JNPC is being developed by Ramky Pharma City (India) Ltd, a joint venture company of the Andhra Pradesh Industrial Infrastructural Corporation (APIIC) and Ramky Infrastructure Ltd, on 2,120 acres in Parwada. SNF (India) has plans to make Vizag one of the hubs in SNF Floerger's global supply chain. The global sales of the French major are around Rs 4,400 crore. It manufactures acrylamides and acrylates and the product range exceeds 1000, catering to a wide range of industries. It has manufacturing plants in France, the US, China, South Korea, Australia, Russia and Indonesia, according to an official release from the Chief Minister's Office.
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