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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
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