Suven - Eli Lilly Ink Research Deal

Hyderabad-based Suven Life Sciences has signed an agreement with US-based Eli Lilly and Company to collaborate on pre-clinical research of molecules in the therapeutic area of central nervous system (CNS) disorders. As per the agreement, Suven will receive milestone payments from Lilly and potentially downstream payments if the identified candidates are selected by Lilly for further pre-clinical research and development.

"This is our first true research collaboration with a global pharmaceutical company thereby helping us realise the next step of our strategic vision," Venkat Jasti, vice chairman and chief executive officer of Suven, said in a press release issued today.

Jasti added that Suven's decade-old business model had expanded from contract research and manufacturing services (CRAMS) to drug discovery and development support services (DDDSS) and now to collaborative research (CRP) with a leading global life science player.

According to Ramakrishna Nirogi, vice president (drug discovery) of Suven, scientists from both parties would work together in a team with the goal of identifying potent, oral compounds that selectively modulate the specified G-Protein coupled receptor for the target CNS disease.

Punj Lloyd - Healthy Order Book

Punj Lloyd Bags Mega Order From Libyan Firm

Engineering and construction company Punj Lloyd Ltd has bagged an order worth over Rs 1,347 crore ($290 million) from Libya’s Sirte Oil Company for pipeline projects.

Punj Lloyd informed the Bombay Stock Exchange that the order, to be executed on EPC (Engineering Construction and Procurement) basis, comprises two contracts. The first contract, worth over Rs 692 crore ($149 million) involves the construction of the main 34 inch diameter, 98.4 km pipeline from Tripoli to Melita. It also entails the construction of a 24 inch diameter, 21 km branch pipeline to the Zawia power plant, the company said. The work, scheduled to be completed in 22 months, involves the construction of gas pressure reducing and metering stations and a compressor station at Melita.

Under the second contract worth over Rs 655 crore ($141 million) the company would complete a 34 inch diameter, 157 km El Khoms-Tripoii pipeline. Punj Lloyd said it would also undertake civil, mechanical, electrical and instrumentation work on the gas pressure reducing, metering and compressor stations at Sidra and Wachkah. This project is scheduled to be completed in 18 months. “This is an important milestone for Punj Lloyd and will help us to set a strong foothold in Maghreb and Africa,” the company’s Chairman Atul Punj said.


Earlier, Punj Lloyd has forged a joint venture with Kaefer Insulation of Germany to set up a large cold chain network across South Asia. The Delhi-based engineering construction company will hold 49 per cent equity in the venture and the German partner the remaining 51 per cent.

The joint venture, christened Kaefer Punj Lloyd Insulations (KPIL), will have three directors – two nominated by Kaefer and one by Punj Lloyd. While Punj Lloyd executives declined to comment, sources close to the development said the joint venture, operating in a niche area, would look to cash in on the needs of the big players entering the retail sector. Some of the biggest names in the country’s corporate world have lined up retail plans including Mukesh Ambani-controlled Reliance Industries, which will kick off its Rs 25,000 crore effort next month.

KPIL’s cold chain network is expected to include all insulation projects like cryogenic insulation for liquefied petroleum gas and compressed natural gas tanks, hot and cold insulation for the oil and gas sector, fertiliser plants, power plants, acoustic insulation and insulated panels for the food industry.

Founded in 1918, Kaefer is a leading company in noise control, heat and cold insulation. Punj Lloyd recently acquired a majority stake in Singapore’s SembCorp Engineers & Constructors, a $1 billion company. It has also entered into a joint venture in Saudi Arabia, Dayim-Punj Lloyd Engineering. Punj Lloyd declared a consolidated income of Rs 1716.59 crore for 2005-06, a 10.6 per cent drop over the previous year’s figure. The compant, however, expects to end the current financial year with a turnover of up to Rs 3,750 crore.

The engineering firm has just won an order from Rajasthan Vidyut Utapadan Nigam Ltd, Jaipur, for a 2x250 mw Chabbra Thermal Power Station worth Rs 823 crore.

Macmillan India - Moving With Time

Macmillan To Set Up E-Book Repository

MPS Technologies, the wholly owned subsidiary of Macmillan India (MIL), is developing Bookstore, an e-book repository where publishers can store books in their back-list and front-list in a secure digital format. The facility will also offer contents to consumers through search engines and e-commerce sites.

According to Rajiv Beri, managing director, MIL, the repository will be launched in the first quarter of 2007. A similar platform for journal publishers is also in the conceptualising stage, he said. At the moment, there are only two major players in the e-book library space - GooglePrint and Amazon’s Inside the Book.

MPS Technologies was formed by MIL in 2004 to capitalise on the emerging trends towards digitisation in the publishing industry, with specific software products and services for publishers and librarians. Currently it has two products - ScholarlyStats to provide professionals and librarians with vendor-usage statistics and PublisherStats which provides publishers with online usage data.

“MPS is where all the exciting things are happening,” said Beri. This year, the first commercial year of operations (the year before was taken up in product development), he expects MPS to do business worth Rs 35-40 crore. That’s a significant proportion of the Rs 200 crore net sales that MIL hopes to do in 2006-07.

With MPS, eMacmillan Software Services and Macmillan Information Processing Services, MIL is looking to grow its capabilities in the digital space, just as it consolidated its position in typesetting facilities of books and journals with the acquisitions of Charon Tech Pvt Ltd last year and Interactive Composition Corp earlier this year.

News You Can Use

Punj Lloyd Bags Rs 823 Cr Order In Rajasthan

Engineering construction major, the Punj Lloyd Ltd, has bagged an order worth Rs 823 crore from the Rajasthan Vidyut Utapadan Nigam Ltd for setting up a 500 Mw power plant in the state. The company would build two units of 250 Mw power plant, Chabbra Thermal Power Station, as per the secured order, which is to be executed on the engineering procurement and construction basis.

In a filing on the Bombay Stock Exchange, Punj Lloyd said the order entails carrying out mechanical, electrical, instrumentation and civil works and is scheduled to be completed in 24 months. Punj Lloyd would be responsible for building up the complete power station with the exception of main plant equipment.

The company claimed, “This was the single largest order bagged by it and was also the largest contract for Punj Lloyd group in this domain. The order backlog of the group (including Sembawang Engineers and Constructors, Singapore) in the power sector stood at Rs 386 crore.



Leela Kempinski To Invest Rs 40 Crore

The Leela Palaces & Resorts will soon add 105 rooms to The Leela Palace, Kempinski, the group’s flagship property in Bangalore. The company has announced an investment of Rs 40 crore for the expansion. The expansion also includes opening an international restaurant at the existing hotel. At present, the Leela Palace, Kempinski-Bangalore has 256 rooms and suites.

“With the strategic investment in expansion, we will enhance the hotel’s appeal and position not only in Bangalore but in the country as well. Our effort is to increase the scope and scale of the 'Essence of India’ through a larger and more luxurious Leela Palace, Bangalore,” said company’s president Peter Leitgeb. Commenting on the expansion programmes, a company spokesperson said that the expansion is part of the Rs 1,500 crore expansion across the country. “The construction of an additional wing to house the new rooms is expected to be completed by January next year,” she added.

Gateway Distriparks - Well On Track

Gateway In Talks With Foreign Firms For Gurgaon Container Hub

Port-based logistics company Gateway Distriparks is in talks with leading foreign shipping companies to set up a mega rail container hub at Garhi Harsaru near Gurgaon. The company will invest over Rs 200 crore in its existing inland container depot (ICD) facility at Garhi Harsaru to develop it into a mega rail-linked container depot.

Gateway Distriparks is a multi-location port-related container freight station (CFS)-cum-logistics company operating CFS at Jawaharlal Nehru Port Trust (JNPT), Chennai, Vizag along with Garhi Harsaru (ICD). "The idea is to form a joint venture with foreign shipping lines to handle export and import cargo at the proposed facility which will also handle domestic cargo," sources said. The proposed facility will be spread over 100 acres. The current ICD is operating in 18 acres. "The company will be heavily investing in rail wagon to set up this rail-linked container depot," the sources said. Prem Kishan Gupta, deputy chairman and managing director of Gateway Distriparks, refused to comment on the issue.

Gateway Distriparks has acquired 100 per cent shareholding in a subsidiary company, which is being renamed Gateway Rail Freight Pvt Ltd (GRFPL). Through GRFPL, Gateway Distriparks has acquired over 50 acres of land in Faridabad district, Haryana. "The idea is to develop a second rail-linked inland container depot (ICD),which will be on the electric railway route connecting Jawaharlal Nehru Port Trust (JNPT) to north India," said company officials.

Gateway flagged off its first container train carrying export boxes to Mundra Port. This was followed by six trains and the company is planning to increase the frequency of the services for both imports and exports from and to JNPT and other gateway ports.