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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, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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- Sojitz Corporation - Japan
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- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
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- Pipit Mutiara Jaya. PT, Indonesia
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- Thiess Contractors Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
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- Indonesian Coal Mining Association
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- Edison Trading Spa - Italy
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- Posco Energy - South Korea
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
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- Bulk Trading Sa - Switzerland
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- Energy Link Ltd, New Zealand
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- Bukit Makmur.PT - Indonesia
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- Indogreen Group - Indonesia
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- Sical Logistics Limited - India
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- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
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- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
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- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Trasteel International SA, Italy
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- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
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- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
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- IHS Mccloskey Coal Group - USA
- Planning Commission, India
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- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
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- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
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- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
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- Africa Commodities Group - South Africa
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- Rashtriya Ispat Nigam Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
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- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
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- Attock Cement Pakistan Limited
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- Bangladesh Power Developement Board
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- Binh Thuan Hamico - Vietnam
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