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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
 The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Grasim cement with Ultra Tech, which together will have a capacity of 49 million tons per annum or 20 per cent of the country's cement production.
The group, which had acquired Ultra Tech from engineering giant L&T in 2004, said it would hive-off Grasim cement into Samruddhi, a wholly owned subsidiary.
The demerged entity would be listed and then merged with UltraTech.
“Post consolidation of Samruddhi and UltraTech, a cement company with a capacity of 49 million tons will be created,” Grasim's whole-time director and chief financial officer, Mr Adesh Gupta told reporters here.
India produces nearly 219 million tons of cement per annum and is the second largest producer of the building material after China.
Presently, the capacity of Grasim is 26 MT and that of UltraTech is 23 million tons. “The entire consolidation would be over in the next 8-10 months,” Mr Gupta said.
The Aditya Birla Group chairman, Mr Kumar Mangalam Birla, in a statement said: “The restructuring move is designed to ensure Grasim's majority stake in, and continued support to, the rapidly-growing cement business, while simultaneously providing Grasim shareholders direct participation in the pure-play cement company.”
Post-merger (Samruddhi and UltraTech), Grasim's holding in the consolidated entity would be somewhere between 55-65 per cent, Mr Gupta said.
“Our holding in the merged entity will be between 55 and 65 per cent as we hold 55 per cent in UltraTech Cement while post-demerger our holding in Samruddhi will be 65 per cent,” he said.
Grasim shareholders would hold 35 per cent in Samruddhi.
The demerger of Grasim Cement is likely to be completed in the last quarter of this fiscal, he said.
As a part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.
The advisors to Grasim's restructuring process are DSP Merrill Lynch, Enam Securities, Amarchand and Mangaldas, Suresh A Shroff and Company and Ernst and Young. PTI
Source: The Statesman
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Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
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- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- The University of Queensland
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Aditya Birla Group - India
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