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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, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
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- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
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- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
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- Bharathi Cement Corporation - India
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- PTC India Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Vedanta Resources Plc - India
- Petron Corporation, Philippines
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- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
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- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
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- Asmin Koalindo Tuhup - Indonesia
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- San Jose City I Power Corp, Philippines
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- Videocon Industries ltd - India
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- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
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- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
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- Mercator Lines Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
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- PowerSource Philippines DevCo
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- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
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- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
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