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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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Saturday, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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- Economic Council, Georgia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
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