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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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Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
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- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
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- Kumho Petrochemical, South Korea
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- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
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- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
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- Orica Mining Services - Indonesia
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- SN Aboitiz Power Inc, Philippines
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- White Energy Company Limited
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- Kaltim Prima Coal - Indonesia
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- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
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- Central Java Power - Indonesia
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- Australian Coal Association
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- Straits Asia Resources Limited - Singapore
- The University of Queensland
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- Standard Chartered Bank - UAE
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- Petron Corporation, Philippines
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- Singapore Mercantile Exchange
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- Indonesian Coal Mining Association
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- Economic Council, Georgia
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- VISA Power Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
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- Global Coal Blending Company Limited - Australia
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- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
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- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
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- IEA Clean Coal Centre - UK
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- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
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- Indo Tambangraya Megah - Indonesia
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- Indian Oil Corporation Limited
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- London Commodity Brokers - England
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
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- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
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- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
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- Gujarat Electricity Regulatory Commission - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
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