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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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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- Metalloyd Limited - United Kingdom
- The University of Queensland
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- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
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- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- PTC India Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
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- Baramulti Group, Indonesia
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- Energy Development Corp, Philippines
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- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
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- Xindia Steels Limited - India
- Parry Sugars Refinery, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
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- Mjunction Services Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
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- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
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