Vivo in India

MOBILE manufacturing company Vivo has been allotted around 68 hectares of land in India’s northern state of Uttar Pradesh to expand its manufacturing capacity.

The land approved by the Yamuna Expressway Industrial Development Authority (YEIDA) is located in the state’s business township Greater Noida. Vivo currently has a rented manufacturing facility of about 20 hectares in the township, with a capacity of manufacturing 2.4 million mobile phones per year. Local media reports quoted YEIDA chief executive officer Arunveer Singh as saying that the Chinese smartphones company would create 25,000 jobs. Vivo would start construction works on the allotted land by March 2019.

Higher profits

THE petroleum and chemical sector has generated some 712.1 billion yuan (US$103 billion) in total profit over the first nine months, up 45.2 percent from the same period of last year, official data showed.

The figure took up 14.3 percent of the total profits generated by domestic industrial enterprises that each has an annual main operation income of more than 20 million yuan, according to the Ministry of Industry and Information Technology.

Demand for blood

THE country’s surging demand for blood products is drawing the world’s largest suppliers, including Barcelona-based Grifols SA, which is in talks for a possible US$5 billion transaction that would be its second acquisition in the country this year.

The world’s biggest maker of immunoglobulin is negotiating to buy a stake in Shanghai RAAS Blood Products Co., the companies said. If completed, it would give Grifols with a major stake and involves integrating the Spanish company’s U.S. unit that’s valued at US$5 billion with Shanghai RAAS in exchange for newly issued shares, according to the statements.