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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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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
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