L&T Infrastructure Development signs Rs2,600 crore agreement with NHAI

The project would be executed on design, build, finance & operate basis, with a concession period of 23 years

L&T BPP Tollway Pvt Ltd, a SPV incorporated by L&T Infrastructure Development Projects Ltd, has signed a concession agreement with NHAI for four-laning of the 244 km stretch of NH14 between Beawar and Pindwara situated in Rajasthan.

The project would be executed on design, build, finance & operate basis, with a concession period of 23 years. The estimated project cost is Rs2,600 crore, and the project is scheduled to be completed in 30 months. The concessionaire is entitled to collect toll from the users of the project highway during the concession period on completion of four-laning.

The project corridor is one of the main evacuation routes for traffic from Kandla and Mundra Ports, destined to hinterlands spread out in Northern India, extending to Rajasthan, Haryana, Delhi, Punjab and beyond. The project corridor falls within the proposed Delhi-Mumbai Industrial Corridor (DMIC) and the four-laning of the 244km stretch of NH-14 within this industrial corridor is expected to accelerate the development and growth prospects in this region.

With this project, L&T currently has 16 projects in its BOT roads portfolio, out of which 7 are presently in operation phase, 8 in construction phase, and this project is entering the development phase, thus cumulating in a length of 6,700 lane km and a total length of 1,461 km, and a total project book size of Rs15,800 crore.

On Wednesday, L&T ended 0.41% up at Rs1,652.95 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.06% to 17,550.63.

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Lupin’s subsidiary gets USFDA approval for anti-bacterial tablet

Lupin Pharmaceuticals Inc has received the US health regulator’s nod to market generic levofloxacin tablets, used for the treatment of bacterial infections

Drug firm Lupin today said its US subsidiary, Lupin Pharmaceuticals Inc, has received the US health regulator’s nod to market generic levofloxacin tablets, used for the treatment of bacterial infections, in the American market.

The United States Food and Drug Administration (USFDA) has granted final approval for the company’s abbreviated new drug application (ANDA) to market a generic version of levofloxacin tablets, Lupin Ltd said in a statement.

Levofloxacin is marketed under the brand name Levaquin by Ortho McNeil (Johnson & Johnson) in the US market.

“Levaquin tablets had annual sales of approximately $1.6 billion for the twelve months ended March 2011, based on IMS Health sales data,” Lupin said.

The company’s levofloxacin tablets in the strengths of 250 mg, 500 mg and 750 mg are the generic equivalent of Levaquin tablets in the same strengths, it added.

Levofloxacin is used for treating a broad spectrum of bacterial infections.

On Wednesday, Lupin ended 2.29% down at Rs425.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.06% to 17,550.63.

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Valuepoint Knowledgeworks appoints Bob Myers as CEO

Bob Myers succeeds A Gururaj, who assumes the role of president and chief revenue officer

Language services provider Valuepoint Knowledgeworks said that it has appointed Bob Myers as the chief executive officer (CEO) of the organisation. Bob succeeds A Gururaj, who assumes the role of president and chief revenue officer.

Headquartered in Bangalore, Knowledgeworks looks to expand their global market share by focusing their expertise on translation and multimedia services for Indian and Asian languages. This strategic move is designed to leverage the exploding demand for language and localisation services in the region as well as take advantage of the company’s Indian delivery platform.

A specialist in creating profitable growth businesses based on innovative business models, Bob has more than 20 years of experience in the language industry. In the ‘90s Bob founded pioneering Japanese localisation company Pacifitech, which he then sold to Bowne Global Solutions, where he was responsible for the localisation business worldwide. He has advised many language solutions providers on growth strategies and most recently served as COO at localisation company Moravia IT.

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