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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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Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
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- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
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- Deloitte Consulting - India
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- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
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- Romanian Commodities Exchange
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- Kohat Cement Company Ltd. - Pakistan
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- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
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- Vedanta Resources Plc - India
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- European Bulk Services B.V. - Netherlands
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- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
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- Mercator Lines Limited - India
- Economic Council, Georgia
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- Indonesian Coal Mining Association
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- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
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- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
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- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
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- Mjunction Services Limited - India
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- Baramulti Group, Indonesia
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- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
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- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
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- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
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- GMR Energy Limited - India
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- Tamil Nadu electricity Board
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- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
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- Electricity Generating Authority of Thailand
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- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
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- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
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- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
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- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
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