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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
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
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- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
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