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The mishap took place at the CMS-1 plant in Dahej, Gujarat, and was immediately isolated but the operations have been temporarily disrupted, said the company.
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Petronet, which operates two liquefied natural gas (LNG) import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm's latest annual report.
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"The company has divested one of its plots of industrial land in Dahej...for total transaction value of Rs 99.2 crore," the fertilisers and industrial chemicals producer said in a regulatory filing.
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The company had started the production of polymer dispersions in Dahej in October 2014, and currently operates one production line at the plant.
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Given the improving performance, healthier balance sheet quality and a positive guidance from the management, we expect traction in earnings to continue which could lead to a further re-rating of the stock.
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"Company's formulation facility at Dahej was inspected by United States Food and Drug Administration (USFDA) from April 3 to 7, 2017," Ajanta Pharma said in a filing to BSE.
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Reliance Industries Ltd (RIL) has received environment clearance for expansion and debottlenecking of its Dahej petrochemical facility in Gujarat at a cost of Rs 13,250 crore.
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Motilal Oswal believes that around 110 percent utilisation at Dahej is very likely in FY19 as well.
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In an interview to CNBC-TV18, Ashish Soparkar, MD of Meghmani Organics said that chloromethane plant will be commissioned in Q4 of FY18.
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The cargo is for delivery to Dahej in western India. The tender will close on February 20 and is valid on the same day, the source added.
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India's biggest importer of liquefied natural gas, Petronet LNG Ltd, reported net profit of Rs 397 crore in the third quarter ended December 31. Company‘s profit more than doubled as it handled record volumes of imported gas.
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"This is the second unit of the 4x93 MW steam turbine-based CPP, being set up by BHEL for RIL at Hazira," BHEL said in statement today.
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State-run liquefied natural gas importer Petronet LNG shares rallied nearly 8 percent intraday Friday after better-than-expected earnings for July-September quarter but analysts are doubtful over consistency in performance.
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Drug maker Ajanta Pharma said its new
formulations facility at Guwahati will be commercialised
before March 2017 and Dahej manufacturing facility, mainly
dedicated for developed markets, will be operational in next
financial year.
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The company's project for manufacturing of 115 TPD Fully Drawn Yarn (FDY) and 200 TPD of Drawn Textured Yarn (FTY) at Dahej, Gujarat has been fully commissioned.
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The plant is expected to be operated by the first quarter of financial year 2018-19.
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The company is going to set up a Chloromethanes plant of Rs 165 crore and third multipurpose plant of Rs 180 crore, at its chemical complex in Dahej, Gujarat.
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LNG consumption, which is 40-45 million cubic meter per day, is expected to rise by
10 million cubic meter a day in current fiscal, says Prabhat Singh, MD & CEO of Petronet LNG.
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In May, the US FDA visited its Indrad facility (the largest facility for Torrent) and handed out Form 483 with 2-3 observations (minor and product related). It was the second inspection in the span of a year on the facility. It is a downside for the company, says CLSA which has a buy call.
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The LNG importer's Dahej terminal had maximum capacity utilisation for the fourth quarter, and will continue to clock 120 percent going forward, says RK Garg Director-Finance, Petronet LNG. He adds that Dahej and Hazira terminals will be the only terminals operating for 6 months.
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The pharma company had posted strong fourth quarter profits but margins had contracted. The R&D spend for the quarter stood at 9 percent, says Yogesh M Agrawal, Managing Director of the company.
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Gujarat State Fertilizers & Chemicals will be concentrating on countries where infrastructure is happening on a large scale, says VD Nanavaty, Senior VP-Finance & CFO of the company.
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The brokerage says higher Abilify sales, Dahej addressing capacity constraints and 10 percent price increase in Elder portfolio are key. According to Credit Suisse important markets of Torrent Pharma in order of priority are India, the US, Brazil and Germany.
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State-owned Oil and Natural Gas Corp on Thursday said the talks to sell stake in long-delayed mega petrochemical plant at Dahej in Gujarat to Kuwait's Petrochemical Industries Company (PIC) remain inconclusive.
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Leading sanitaryware company HSIL Ltd, which has forayed into the water heater business with its partnership with French company Groupe Atlantic, on Friday said it has plans to set up a plant in the country in a joint venture with the French company
