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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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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- The University of Queensland
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
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