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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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Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
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