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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, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
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- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
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- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
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- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
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- Agrawal Coal Company - India
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- Independent Power Producers Association of India
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- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
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- Uttam Galva Steels Limited - India
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- Kumho Petrochemical, South Korea
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- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
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- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
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- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
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- Mercator Lines Limited - India
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- Aditya Birla Group - India
- Australian Coal Association
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- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
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- Thai Mozambique Logistica
- PowerSource Philippines DevCo
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- Semirara Mining and Power Corporation, Philippines
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- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
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- Attock Cement Pakistan Limited
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- Essar Steel Hazira Ltd - India
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- Global Business Power Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
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