IIFCO plans to set up a dairy farm with over 40,000 imported high-yield cows in partnership with Fonterra of New Zealand. The first phase of the over $1 billion project will be located in IIFCO's Nellorkisan SEZ. IIFCO will own 45% stake, Fonterra 35% and Global Dairy Health Ltd. the remaining 20%. Hero Honda plans to set up its fourth plant in Baddi-Barrotiwala-Nalagarh industrial belt of Himachal Pradesh and has sought land from the state government. Crude oil prices are near an eight-week high and Sinopec acquired oil reserves in Brazil.