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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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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- McConnell Dowell - Australia
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- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
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- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
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- Gujarat Electricity Regulatory Commission - India
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- Directorate General of MIneral and Coal - Indonesia
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- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
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- Thai Mozambique Logistica
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- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
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- Indonesian Coal Mining Association
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- Goldman Sachs - Singapore
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- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
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- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
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- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
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- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Ministry of Mines - Canada
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- Bangladesh Power Developement Board
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- Parry Sugars Refinery, India
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- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
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- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
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- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
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- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
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- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
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- Marubeni Corporation - India
- Minerals Council of Australia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
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- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
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- South Luzon Thermal Energy Corporation
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- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Independent Power Producers Association of India
- The University of Queensland
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- Chamber of Mines of South Africa
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- Bahari Cakrawala Sebuku - Indonesia
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- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
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