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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, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
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- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
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- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
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