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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
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