Indian Government Orders Dow to Stop Building R & D Center

2008-09-28 00:00:00
< P > < FONT face = Verdana > The Indian unit of Dow Chemical Dow Chemical Co has been told to stop building a research and development center in western India following protests by locals worried about potential pollution, the Indian newspaper Business Standard reported on Saturday.

< P > < FONT face = Verdana > The Business Standard reports that construction has been suspended for a month while a government-appointed panel reviews contamination.

< P > < FONT face = Verdana > Dow Chemical said last year it would spend $100 million to build a global research and development center near Pune in the Indian state of Maharashtra. Construction of the project will begin in 2008.

< P > < FONT face = Verdana > In July, local villagers and activists attacked the construction site and set fire to an office and several cars.

< P > < FONT face = Verdana > For many Indians, Dow is synonymous with the 1984 industrial disaster in Bhopal, central India. That year, a toxic gas leak at a Union Carbide pesticide plant killed nearly 3,800 people. Dow Chemical then took over Union Carbide.


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Correlation

2007-11-27 00:00:00

In terms of net profit, 10 of the 19 enterprises suffered losses, more than half of the losses, and the net profit of 12 of the 19 enterprises decreased year on year, and the depth of the loss side far exceeded the profit side.