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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Central Java Power - Indonesia
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