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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
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