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Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
 Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, power plants in Tamil Nadu and Andhra Pradesh and acquiring a coal mine abroad. The company’s board today approved fund-raising to the tune of $100 million (Rs 500 crore).
Speaking to reporters here, N Srinivasan, vice-chairman and managing director, said the board approved the proposal for raising funds not exceeding Rs 500 crore through issue of equity/equity-linked instruments from domestic and global markets.
The funds are required for various projects being undertaken by the company, repayment of debts and general purposes.
“This is an enabling resolution. We will try to fund the projects through internal accruals. We will raise the money if needed,” said Srinivasan.
The company is planning to set up a cement facility in Rajasthan with a capacity of 1.5 million tonnes. It is also planning to set up 100 Megawatt (Mw) coal-based plants in Tamil Nadu and Andhra Pradesh at an investment of Rs 500 crore. The company’s current power requirement is 160-170 MW while the generating capacity is 50-60 MW.
The frequent power cuts in Tamil Nadu and Andhra Pradesh had impacted production at the company’s plants and increased spends on power and fuel. The company’s expense on power and fuel in the quarter ended March 31, 2009, rose 18 per cent to Rs 233.91 crore, from Rs 198.46 crore a year ago. India Cements is hoping this to come down by 15 per cent when its power plants start operation. “More than the cost, our external dependency will come down,” said Srinivasan.
Meanwhile, to meet its coal requirement, the company is planning to acquire a coal mine in Indonesia. “Technical due diligence is over and we will finalise the deal in the next quarter,” he said.
The company expects around 30 million tonnes from this mine. Currently, India Cements’ total requirement is 800-900 tonnes for cement and 400,000 for power.
Meanwhile, the company has reported 10 per cent drop in net profit to Rs 93.86 crore for the quarter ended March 31, 2009, as compared with Rs 104.44 crore a year ago.
“One of the biggest challenges during the year was rise in raw materials prices, compounded by the depreciation of the rupee against the dollar, which increased the cost of production, resulting in lower operating margin,” he said. India Cements’ other income rose to Rs 115.41 crore.
Source: Business Standard (http://www.business-standard.com/india/news/india-cements-to-invest-rs-1500-cr-over-2-years/362333/)
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Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
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- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
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