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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, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
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- VISA Power Limited - India
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- Aboitiz Power Corporation - Philippines
- Planning Commission, India
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- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
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- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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