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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, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
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- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
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- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
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- Tamil Nadu electricity Board
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- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
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- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
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