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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
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