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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, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
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- Petron Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
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