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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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- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
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