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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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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
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- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
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- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
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- Economic Council, Georgia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
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- SMC Global Power, Philippines
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- Sical Logistics Limited - India
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- Thiess Contractors Indonesia
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- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
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- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
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- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
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- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
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- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
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- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- The University of Queensland
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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