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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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Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
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- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
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