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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Antam Resourcindo - Indonesia
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- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
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- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
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- Economic Council, Georgia
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- Standard Chartered Bank - UAE
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- Siam City Cement PLC, Thailand
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- Ministry of Transport, Egypt
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- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
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- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
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- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
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- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
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- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
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- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
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- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
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- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
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- Electricity Authority, New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
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- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
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- Electricity Generating Authority of Thailand
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- The Treasury - Australian Government
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- The University of Queensland
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- Heidelberg Cement - Germany
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- Parliament of New Zealand
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- Jaiprakash Power Ventures ltd
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