Indian cos keen to invest in Germany
About a dozen Indian companies have expressed keenness to set up units in a chemical and pharmaceutical park at Frankfurt, Germany. Each unit is likely to have an investment of about $10 to 20 million.
The companies, which belong to sectors like agro-chemicals, biotechnology and specialty chemicals, are holding discussions with Infraserv Hochest — the German company that manages the chemical park in the country.
Earlier this month, senior executives of Infraserv — Klaus Alberti, vice-president, corporate planning, and Andreas Brockmeyer, executive director, site marketing/management, were in India. They met a host of potential clients and participated in Chemspec Expo 2006 held in Mumbai.
According to B.L. Bajaj, managing director of Dynamic Orbits, Pune-based Bilcare is in the advanced stages of setting up its plant in the chemical park, which is near the international airport at Frankfurt. The park presently houses more than 80 leading chemical companies, including Pfizer, Sanofi-Aventis, Bayer Crop Science, Cabot, Clariant, Merck and Solvay. The units in the park employ around 22,000 persons.
Dynamic Orbits represents Infraserv in India, which spun off from Hoechst AG in 1998, and registered a sale of Euro 907 million in 2004.
India , it may be noted, has been trying to develop petroleum, chemicals and petrochemicals regions to create world-class infrastructure and investment facilities.
In January 2005, the government set up a task force, headed by principal secretary to the Prime Minister, to identify sites for development of chemical and petrochemical investment regions, suggest necessary policy changes, and help state governments set up single window clearance system.