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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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Saturday, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
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- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
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- Minerals Council of Australia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Indian Energy Exchange, India
- Parliament of New Zealand
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- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
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- Thai Mozambique Logistica
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- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
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- Siam City Cement - Thailand
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- Electricity Generating Authority of Thailand
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- Ceylon Electricity Board - Sri Lanka
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- Merrill Lynch Commodities Europe
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- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
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- Chamber of Mines of South Africa
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- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
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- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
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- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
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- Altura Mining Limited, Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- PTC India Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
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- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Therma Luzon, Inc, Philippines
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- Leighton Contractors Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
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