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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, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
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- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
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- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
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- Attock Cement Pakistan Limited
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- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
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- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
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- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
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- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
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- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
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- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
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- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
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