Page 155 - CW E-Magazine (17-9-2024)

Pharmaceuticals Hydrocarbons

and lean manufacturing principles to AI applications will be shared, emphasis- facturing & Automation Excellence’, BUSINESS REORGANISATION
optimise production processes and ing the importance of seamless integra- refl ecting the focus on productivity, auto-
enhance operational excellence. tion and quality assurance in pharmaceu- mation, compliance, effi ciency, and EHS Gujarat Government approves restructuring of GSPC
tical manufacturing. as key drivers of industry success. With
The second day will pivot towards 21 categories spanning both individual Following the approval of the State by combining the inter-linked busi- Mr. Milind Torwane, Managing
practical insights on IT infrastructure The second day will also witness the and organisational achievements, the Government, the board of directors of nesses, will unlock business syner- Director of GGL, stated that the
integration, regulatory compliance con- presentation of ‘Pharma Manufacturing & awards will celebrate the pioneering Gujarat State Petroleum Corporation gies, amplifying the scale of opera- merger would help synergise opera-
siderations, and predictive maintenance Automation Excellence Awards 2024’. efforts that have revolutionised produc- Ltd. (GSPC) – India’s second largest tions and improving effi ciency due tions and adapt to the evolving energy
strategies for automated systems. Case This year’s awards are centred around the tion, operations, and IT manufacturing natural gas trading company, Gujarat to optimum utilisation of resources,” market.
studies and best practices in robotics and theme ‘Accelerating P.A.C.E.² for Manu- within pharma. State Petronet Ltd. (GSPL) – the coun- GGL said in a statement.
The merger will help synergise
CHANGE IN LEADERSHIP try’s second largest natural gas trans- According to the company, this and ensure a long-term sustainable
mission company and Gujarat Gas
Cipla’s Vice-Chairman MK Hamied resigns; son Kamil Ltd. (GGL) – the country’s largest city will also increase the market share future for the new entities born
to join board gas distribution company, approved of the gas trading business while out of the process, he said. How-
the restructuring scheme of the group enabling focused growth strategies ever, once the merger concludes, the
entities. in other energy sectors. four-decade-old GSPC will cease to
Cipla has informed that Mr. Mustafa Mr. Hamied said in his resignation letter a member of the management team. He exist.
Khwaja Hamied or M.K. Hamied, to the Cipla’s board. Cipla’s board has had stepped down from the company to The proposed restructuring will The merger of GSPL with GGL
Vice-Chairman and non-Executive also approved the appointment of Adil pursue personal interests in 2015. eliminate the layered structure of the and subsequent demerger of the natu- “When the last restructuring hap-
Director has stepped down from the Zainulbhai and Abhijit Joshi as additional GSPC Group, unlocking value for its ral gas transmission business will fur- pened of GSPC, the three companies
company’s Board citing “age and health”. directors (non- executive) with effect Mr. Hamied, in his resignation letter, various stakeholders including public ther help simplify the existing layered were not on equal footing. GSPC was
from September 3, 2024. The company acknowledged his daughter Samina’s at large, according to a stock exchange structure between GSPL and GGL. still in debt, and Gujarat Gas was
Mr. Hamied’s resignation will come also appointed Mr. Kamil Hamied, son contribution in transforming the company fi ling by GGL. newly acquired. Over the last 7-8
into effect from close of business hours of Mr. M. K. Hamied and nephew of into a professionally managed organi- “GGL will be able to better lever- years, GSPC, GSPL and Gujarat Gas
on October 29, 2024, Cipla told stock Dr. Y. K. Hamied as non-executive director sation. Ms. Samina Hamied had resigned This will include the merger of age the combined assets and expand are debt free.
exchanges. Mr. Hamied, 83, is the younger from November 1, 2024. Mr. Hamied from Cipla board in July citing personal GSPC and GGL, merger of GSPL and capital base all put together, enhanc-
brother of Cipla’s Chairman and patri- said Kamil’s appointment on the board is and family commitments. GGL and the merger of GSPC Energy ing profi tability and return ratios on The average annual PAT (profi t
arch Dr. Y. K. Hamied. “It is with a heavy to “maintain continuity while represen- with GGL. In the second phase, the account of varied gas sourcing port- after tax) is in the range of
heart that I write to formally announce ting the promoter family.” All promoters together hold 30.91% restructuring scheme has proposed the folios. Rs. 1,000-1,200-crore. This has been
my resignation from the position of Vice stake in Cipla, while Yusuf Hamied indi- de-merger of the gas transmission the case for the last 2-3 years. Now there
Chairman and non-Executive Director of Kamil Hamied, in his previous stint at vidually owns 18.67%. His sister Sophie business from GGL into the newly The cash fl ow generated by the is equal footing in these three com-
the company….. due to age and health,” Cipla, was the chief strategy offi cer and Ahmed holds about 5.7% stake. incorporated entity GSPL Transmis- combined businesses can be deployed panies and any combination – merger,
GROWTH ROADMAP sion Ltd. (GTL). more effi ciently in future to fund demerger or amalgamation – will
organic/inorganic opportunities,” the not burden the other companies,” he
Aurobindo Pharma says 14 biosimilar products under “The merger of GSPC with GGL, company said in a statement. explained.

development ADNOC to supply IOC with LNG for 15 years

Hyderabad-based drugmaker Auro- expansion related projects and capability ceutical ingredients (APIs) capacity with
bindo Pharma is expanding its speciality enhancement projects, including biosimi- 29 manufacturing facilities in operations. The Abu Dhabi National Oil Com- and LNG, which along with renewable The project, which will run on clean
business, accelerating biosimilar product lars and biologics CMO. These invest- Further, six facilities are under construc- pany (ADNOC) has agreed a 15-year energy and petrochemicals it sees as power, will consist of two plants each
development as well as strengthening the ments will further drive our growth,” tion and expected to be operational in a deal to supply Indian Oil Corporation pillars for its future growth, putting it producing 4.8-million tons per annum
supply chain and scaling operations in Vice-Chairman and Managing Director couple of years. Through subsidiary Thera- (IOC) with 1 million metric tons per in competition with regional rivals (mtpa) of LNG, which will more than
the growth markets to boost the business. Mr. K. Nithyananda Reddy said. Citing Nym Biologics, it had recently ventured annum of liquefi ed natural gas, the Qatar – one of the world’s top LNG double ADNOC’s LNG capacity to
Fourteen biosimilar products are under IQVIA MAT June 2024 data, Aurobindo into biologics contract manufacturing. Abu Dhabi Media Offi ce said. exporters – and Saudi Arabia, which 15-mtpa.
different stages of development and in Pharma said it is the largest generics player Aurobindo Pharma had also announced also has LNG ambitions.
the US, it has submitted 14 peptide API in the US by prescriptions dispensed. signing of a master service agreement The LNG will mainly come from ADNOC had already signed other
drug master fi les (DMFs), the fi rm said in with MSD and plans to put-up a biologics ADNOC’s Ruwais LNG project, the ADNOC awarded Shell, BP, agreements for LNG supply from
a release on the strategic initiatives being The company has a manufacturing capa- manufacturing plant with a capacity government media offi ce informed. TotalEnergies and Japan’s Mitsui each Ruwais, including with Shell, Mitsui,
pursued. “We will continue to invest in city of over 50 billion formulation units of 25-30 million vials per annum at an a 10% stake in the Ruwais project, Osaka Gas, China’s ENN and Germany’s
research and development, line/capacity and 19,000 million tonnes active pharma- investment of up to Rs. 1,000-crore. ADNOC has big ambitions in gas expected to begin output in late 2028. EnBW and SEFE.

154 Chemical Weekly September 17, 2024 Chemical Weekly September 17, 2024 155

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