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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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- Deloitte Consulting - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Planning Commission, India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
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