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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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Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- Indian Energy Exchange, India
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- Planning Commission, India
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- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
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- Bukit Baiduri Energy - Indonesia
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- Global Business Power Corporation, Philippines
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- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
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- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
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- Economic Council, Georgia
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- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Minerals Council of Australia
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- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
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- The State Trading Corporation of India Ltd
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- Global Coal Blending Company Limited - Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
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- Latin American Coal - Colombia
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- Sindya Power Generating Company Private Ltd
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- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
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- GAC Shipping (India) Pvt Ltd
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- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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- New Zealand Coal & Carbon
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- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- The University of Queensland
- Australian Commodity Traders Exchange
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- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
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- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
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- Trasteel International SA, Italy
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- Directorate General of MIneral and Coal - Indonesia
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- Heidelberg Cement - Germany
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- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
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- Australian Coal Association
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
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- Meralco Power Generation, Philippines
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