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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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Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
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- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- London Commodity Brokers - England
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
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