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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Marubeni Corporation - India
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- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
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- Indian Energy Exchange, India
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- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
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- Ambuja Cements Ltd - India
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- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Australian Coal Association
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- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
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- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
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