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Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
 Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, power plants in Tamil Nadu and Andhra Pradesh and acquiring a coal mine abroad. The company’s board today approved fund-raising to the tune of $100 million (Rs 500 crore).
Speaking to reporters here, N Srinivasan, vice-chairman and managing director, said the board approved the proposal for raising funds not exceeding Rs 500 crore through issue of equity/equity-linked instruments from domestic and global markets.
The funds are required for various projects being undertaken by the company, repayment of debts and general purposes.
“This is an enabling resolution. We will try to fund the projects through internal accruals. We will raise the money if needed,” said Srinivasan.
The company is planning to set up a cement facility in Rajasthan with a capacity of 1.5 million tonnes. It is also planning to set up 100 Megawatt (Mw) coal-based plants in Tamil Nadu and Andhra Pradesh at an investment of Rs 500 crore. The company’s current power requirement is 160-170 MW while the generating capacity is 50-60 MW.
The frequent power cuts in Tamil Nadu and Andhra Pradesh had impacted production at the company’s plants and increased spends on power and fuel. The company’s expense on power and fuel in the quarter ended March 31, 2009, rose 18 per cent to Rs 233.91 crore, from Rs 198.46 crore a year ago. India Cements is hoping this to come down by 15 per cent when its power plants start operation. “More than the cost, our external dependency will come down,” said Srinivasan.
Meanwhile, to meet its coal requirement, the company is planning to acquire a coal mine in Indonesia. “Technical due diligence is over and we will finalise the deal in the next quarter,” he said.
The company expects around 30 million tonnes from this mine. Currently, India Cements’ total requirement is 800-900 tonnes for cement and 400,000 for power.
Meanwhile, the company has reported 10 per cent drop in net profit to Rs 93.86 crore for the quarter ended March 31, 2009, as compared with Rs 104.44 crore a year ago.
“One of the biggest challenges during the year was rise in raw materials prices, compounded by the depreciation of the rupee against the dollar, which increased the cost of production, resulting in lower operating margin,” he said. India Cements’ other income rose to Rs 115.41 crore.
Source: Business Standard (http://www.business-standard.com/india/news/india-cements-to-invest-rs-1500-cr-over-2-years/362333/)
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Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
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- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
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- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
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