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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, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
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- Kaltim Prima Coal - Indonesia
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- Chamber of Mines of South Africa
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- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
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- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
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- Economic Council, Georgia
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- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- India Bulls Power Limited - India
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- Africa Commodities Group - South Africa
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- Binh Thuan Hamico - Vietnam
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- Minerals Council of Australia
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- Banpu Public Company Limited - Thailand
- Planning Commission, India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
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- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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- Semirara Mining Corp, Philippines
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- Trasteel International SA, Italy
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- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
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- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
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- Timah Investasi Mineral - Indoneisa
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
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- Wilmar Investment Holdings
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- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
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- Global Business Power Corporation, Philippines
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- Orica Australia Pty. Ltd.
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- Merrill Lynch Commodities Europe
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- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
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- The University of Queensland
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- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
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