Gujarati News: January 2007

Cinemax India’s multiplex in Ahmedabad
Wednesday, January 17, 2007 | AY

Cinemax India ltd will enter into Gujarat this year with the launch of a multiplex theatre in Ahmedabad by June end. Two more are planned in the city by the end of next year. The company which has maximum numbers of screens in Mumbai has plans for Gujarat also. It will also start multiplexes in Baroda, Rajkot, Anand, Surat and Mehsana. The face value of equity shares of Rs.10 and the floor price is 13.5 times of the face value and the cap price is 15.5 times of the face value. The shares will be listed on the Bombay Stock Exchange Ltd and the National Stock Exchange of India Ltd.

LNG import terminals coming up in Gujarat
Tuesday, January 16, 2007 | AY

Gujarat Government owned, Gujarat State Petroleum Corp will set up two Liquefied Natural Gas (LNG) import terminals in the state at an investment of 1.1 billion dollars. GSPC has signed an initial pact with Adani Energy, a Adani Group unit, for setting up of a 5 million tonnes per annum LNG import and regassification terminal at Mundra port. It also signed a Memorandum of Understanding with Essar Energy, a unit of Mumbai-based Essar Group, for a similar facility at Pipavav. Gujarat already has Petronet LNG Ltd's 5 million tonnes per annum LNG receipt facility at Dahej and Shell's 2.5 mtpa terminal at Hazira. The Dahej capacity is being doubled. GSPC also signed a deal with Petronet for construction of two additional storage tanks at the latter's Dahej facility at a cost of 300 million dollars.

Reliance invests in Gujarat
Sunday, January 14, 2007 | AY

Reliance Industries has said that they are planning to invest 670 billion rupees in the state of Gujarat. The company would invest this money to create energy infrastructure in the region. They would also set up a polypropylene plant, and a coal and lignite gasification project in the state. In addition, there would also be a port, city gas distribution projects and a natural gas pipeline in the region. Reliance Industries is one of the world’s top polyester producer and they would establish a refinery through its subsidiary Reliance Petroleum Ltd. next to an existing 660,000-bpd unit in Gujarat’s Jamnagar.