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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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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
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