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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, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
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- Central Electricity Authority - India
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- Singapore Mercantile Exchange
- The University of Queensland
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
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- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Sindya Power Generating Company Private Ltd
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- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
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- White Energy Company Limited
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- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
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- Attock Cement Pakistan Limited
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- Goldman Sachs - Singapore
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- Thai Mozambique Logistica
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- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
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- Electricity Generating Authority of Thailand
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- Videocon Industries ltd - India
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- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
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- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
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- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
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- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
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- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
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- Minerals Council of Australia
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- Tata Chemicals Ltd - India
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- Cement Manufacturers Association - India
- India Bulls Power Limited - India
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- GMR Energy Limited - India
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- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
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- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Deloitte Consulting - India
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- Binh Thuan Hamico - Vietnam
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- Siam City Cement PLC, Thailand
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- Indian Oil Corporation Limited
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