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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, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
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- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
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- ICICI Bank Limited - India
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- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
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- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
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- The Treasury - Australian Government
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- PNOC Exploration Corporation - Philippines
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- VISA Power Limited - India
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- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
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- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
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- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
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- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
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- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
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- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
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