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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
 The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Grasim cement with Ultra Tech, which together will have a capacity of 49 million tons per annum or 20 per cent of the country's cement production.
The group, which had acquired Ultra Tech from engineering giant L&T in 2004, said it would hive-off Grasim cement into Samruddhi, a wholly owned subsidiary.
The demerged entity would be listed and then merged with UltraTech.
“Post consolidation of Samruddhi and UltraTech, a cement company with a capacity of 49 million tons will be created,” Grasim's whole-time director and chief financial officer, Mr Adesh Gupta told reporters here.
India produces nearly 219 million tons of cement per annum and is the second largest producer of the building material after China.
Presently, the capacity of Grasim is 26 MT and that of UltraTech is 23 million tons. “The entire consolidation would be over in the next 8-10 months,” Mr Gupta said.
The Aditya Birla Group chairman, Mr Kumar Mangalam Birla, in a statement said: “The restructuring move is designed to ensure Grasim's majority stake in, and continued support to, the rapidly-growing cement business, while simultaneously providing Grasim shareholders direct participation in the pure-play cement company.”
Post-merger (Samruddhi and UltraTech), Grasim's holding in the consolidated entity would be somewhere between 55-65 per cent, Mr Gupta said.
“Our holding in the merged entity will be between 55 and 65 per cent as we hold 55 per cent in UltraTech Cement while post-demerger our holding in Samruddhi will be 65 per cent,” he said.
Grasim shareholders would hold 35 per cent in Samruddhi.
The demerger of Grasim Cement is likely to be completed in the last quarter of this fiscal, he said.
As a part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.
The advisors to Grasim's restructuring process are DSP Merrill Lynch, Enam Securities, Amarchand and Mangaldas, Suresh A Shroff and Company and Ernst and Young. PTI
Source: The Statesman
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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
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