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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, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
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