COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...


Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold * Talks with Transnet on rail PPP on track Reuters reported that, Coal of Africa (CoAL) said on Mond ...


Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...


Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...


Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...


   1257 1258 1259 1260 1261   
Showing 6291 to 6295 news of total 6871
News by Category
Popular News
 
Total Members : 28,619
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Oldendorff Carriers - Singapore
  • Central Java Power - Indonesia
  • Coaltrans Conferences
  • Carbofer General Trading SA - India
  • Agrawal Coal Company - India
  • Coastal Gujarat Power Limited - India
  • Singapore Mercantile Exchange
  • Kideco Jaya Agung - Indonesia
  • Shenhua Group - China
  • HSBC - Hong Kong
  • Adani Power Ltd - India
  • Global Green Power PLC Corporation, Philippines
  • Inspectorate - India
  • Karaikal Port Pvt Ltd - India
  • Bank of China, Malaysia
  • Cebu Energy, Philippines
  • Maybank - Singapore
  • Pinang Coal Indonesia
  • Price Waterhouse Coopers - Russia
  • IEA Clean Coal Centre - UK
  • Berau Coal - Indonesia
  • Meralco Power Generation, Philippines
  • The University of Queensland
  • Malabar Cements Ltd - India
  • Maharashtra Electricity Regulatory Commission - India
  • RBS Sempra - UK
  • Kobe Steel Ltd - Japan
  • Bahari Cakrawala Sebuku - Indonesia
  • Clarksons - UK
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • IOL Indonesia
  • Straits Asia Resources Limited - Singapore
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • bp singapore
  • Ind-Barath Power Infra Limited - India
  • The India Cements Ltd
  • Samsung - South Korea
  • Indogreen Group - Indonesia
  • Vale Mozambique
  • Thriveni
  • Enel Italy
  • ICICI Bank Limited - India
  • Freeport Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Tamil Nadu electricity Board
  • The Treasury - Australian Government
  • OPG Power Generation Pvt Ltd - India
  • Semirara Mining and Power Corporation, Philippines
  • Fearnleys - India
  • London Commodity Brokers - England
  • Miang Besar Coal Terminal - Indonesia
  • IHS Mccloskey Coal Group - USA
  • Rashtriya Ispat Nigam Limited - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Anglo American - United Kingdom
  • NTPC Limited - India
  • Vijayanagar Sugar Pvt Ltd - India
  • Barclays Capital - USA
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Ministry of Finance - Indonesia
  • PetroVietnam Power Coal Import and Supply Company
  • Commonwealth Bank - Australia
  • Vitol - Bahrain
  • South Luzon Thermal Energy Corporation
  • Kohat Cement Company Ltd. - Pakistan
  • Mintek Dendrill Indonesia
  • Cargill India Pvt Ltd
  • The State Trading Corporation of India Ltd
  • Maruti Cements - India
  • Uttam Galva Steels Limited - India
  • Orica Mining Services - Indonesia
  • Chamber of Mines of South Africa
  • Surastha Cement
  • Sarangani Energy Corporation, Philippines
  • Savvy Resources Ltd - HongKong
  • McConnell Dowell - Australia
  • Lafarge - France
  • Samtan Co., Ltd - South Korea
  • IBC Asia (S) Pte Ltd
  • Bangladesh Power Developement Board
  • Kepco SPC Power Corporation, Philippines
  • Mjunction Services Limited - India
  • Ernst & Young Pvt. Ltd.
  • Bayan Resources Tbk. - Indonesia
  • Posco Energy - South Korea
  • Manunggal Multi Energi - Indonesia
  • LBH Netherlands Bv - Netherlands
  • Tata Chemicals Ltd - India
  • Tata Power - India
  • KOWEPO - South Korea
  • Bukit Baiduri Energy - Indonesia
  • Coal India Limited
  • Jaiprakash Power Ventures ltd
  • Rio Tinto Coal - Australia
  • Gujarat Electricity Regulatory Commission - India
  • IMC Shipping - Singapore
  • ETA - Dubai
  • Intertek Mineral Services - Indonesia
  • Indian Oil Corporation Limited
  • Arch Coal - USA
  • Indo Tambangraya Megah - Indonesia
  • Lanco Infratech Ltd - India
  • CESC Limited - India
  • Interocean Group of Companies - India
  • Madhucon Powers Ltd - India
  • Thai Mozambique Logistica
  • Planning Commission, India
  • OCBC - Singapore
  • Binh Thuan Hamico - Vietnam
  • UOB Asia (HK) Ltd
  • Indian Energy Exchange, India
  • Moodys - Singapore
  • Electricity Authority, New Zealand
  • KEPCO - South Korea
  • Aboitiz Power Corporation - Philippines
  • Petron Corporation, Philippines
  • Thailand Anthracite
  • Borneo Indobara - Indonesia
  • TANGEDCO India
  • Dalmia Cement Bharat India
  • GN Power Mariveles Coal Plant, Philippines
  • ASAPP Information Group - India
  • Neyveli Lignite Corporation Ltd, - India
  • Simpson Spence & Young - Indonesia
  • PTC India Limited - India
  • Toyota Tsusho Corporation, Japan
  • McKinsey & Co - India
  • SN Aboitiz Power Inc, Philippines
  • JPower - Japan
  • Jorong Barutama Greston.PT - Indonesia
  • GAC Shipping (India) Pvt Ltd
  • Timah Investasi Mineral - Indoneisa
  • Bangkok Bank PCL
  • Parliament of New Zealand
  • Bukit Makmur.PT - Indonesia
  • Bhushan Steel Limited - India
  • EIA - United States
  • Maersk Broker
  • Gresik Semen - Indonesia
  • Renaissance Capital - South Africa
  • Sucofindo - Indonesia
  • Xindia Steels Limited - India
  • Cigading International Bulk Terminal - Indonesia
  • Infraline Energy - India
  • Cosco
  • Kapuas Tunggal Persada - Indonesia
  • Mercuria Energy - Indonesia
  • GNFC Limited - India
  • Asmin Koalindo Tuhup - Indonesia
  • Attock Cement Pakistan Limited
  • CNBM International Corporation - China
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • EMO - The Netherlands
  • Siam City Cement - Thailand
  • SGS (Thailand) Limited
  • GMR Energy Limited - India
  • Gujarat Mineral Development Corp Ltd - India
  • Meenaskhi Energy Private Limited - India
  • Siam City Cement PLC, Thailand
  • Coal Orbis AG
  • Chettinad Cement Corporation Ltd - India
  • Russian Coal LLC
  • Bhatia International Limited - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Essar Steel Hazira Ltd - India
  • Inco-Indonesia
  • Minerals Council of Australia
  • Permata Bank - Indonesia
  • Latin American Coal - Colombia
  • Tanito Harum - Indonesia
  • GVK Power & Infra Limited - India
  • Semirara Mining Corp, Philippines
  • MEC Coal - Indonesia
  • Holcim Trading Pte Ltd - Singapore
  • Panama Canal Authority
  • Pendopo Energi Batubara - Indonesia
  • Iligan Light & Power Inc, Philippines
  • Jindal Steel & Power Ltd - India
  • TRAFIGURA, South Korea
  • Bharathi Cement Corporation - India
  • Ministry of Transport, Egypt
  • Indorama - Singapore
  • Directorate General of MIneral and Coal - Indonesia
  • Metalloyd Limited - United Kingdom
  • Makarim & Taira - Indonesia
  • Sree Jayajothi Cements Limited - India
  • Grasim Industreis Ltd - India
  • Maheswari Brothers Coal Limited - India
  • Indonesian Coal Mining Association
  • Runge Indonesia
  • Therma Luzon, Inc, Philippines
  • GB Group - China
  • BRS Brokers - Singapore
  • Global Coal Blending Company Limited - Australia
  • Platts
  • Mitsubishi Corporation
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Wilmar Investment Holdings
  • Independent Power Producers Association of India
  • J M Baxi & Co - India
  • Marubeni Corporation - India
  • PNOC Exploration Corporation - Philippines
  • Coalindo Energy - Indonesia
  • Credit Suisse - India
  • Thiess Contractors Indonesia
  • Aditya Birla Group - India
  • Gujarat Sidhee Cement - India
  • Globalindo Alam Lestari - Indonesia
  • Orica Australia Pty. Ltd.
  • Merrill Lynch Bank
  • VISA Power Limited - India
  • San Jose City I Power Corp, Philippines
  • Global Business Power Corporation, Philippines
  • Trasteel International SA, Italy
  • Britmindo - Indonesia
  • TNPL - India
  • GHCL Limited - India
  • Economic Council, Georgia
  • Wood Mackenzie - Singapore
  • Australian Coal Association
  • Heidelberg Cement - Germany
  • Mechel - Russia
  • Glencore India Pvt. Ltd
  • Kalimantan Lumbung Energi - Indonesia
  • Indian School of Mines
  • PLN - Indonesia
  • JPMorgan - India
  • TGV SRAAC LIMITED, India
  • Coeclerici Indonesia
  • Japan Coal Energy Center
  • PowerSource Philippines DevCo
  • Argus Media - Singapore
  • Gupta Coal India Ltd
  • Vedanta Resources Plc - India
  • CIMB Investment Bank - Malaysia
  • Deutsche Bank - India
  • Peabody Energy - USA
  • Total Coal South Africa
  • SMC Global Power, Philippines
  • Humpuss - Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • Kaltim Prima Coal - Indonesia
  • Rudhra Energy - India
  • Merrill Lynch Commodities Europe
  • Star Paper Mills Limited - India
  • Malco - India
  • New Zealand Coal & Carbon
  • Bank of America
  • ACC Limited - India
  • APGENCO India
  • Reliance Power - India
  • BNP Paribas - Singapore
  • Cardiff University - UK
  • Energy Link Ltd, New Zealand
  • Cement Manufacturers Association - India
  • World Coal - UK
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • KPCL - India
  • Videocon Industries ltd - India
  • Sindya Power Generating Company Private Ltd
  • Barasentosa Lestari - Indonesia
  • Altura Mining Limited, Indonesia
  • European Bulk Services B.V. - Netherlands
  • Sojitz Corporation - Japan
  • Romanian Commodities Exchange
  • Formosa Plastics Group - Taiwan
  • SUEK AG - Indonesia
  • Central Electricity Authority - India
  • Adaro Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • Sakthi Sugars Limited - India
  • Eastern Energy - Thailand
  • Salva Resources Pvt Ltd - India
  • Shree Cement - India
  • Bhoruka Overseas - Indonesia
  • Mitsui
  • Goldman Sachs - Singapore
  • Africa Commodities Group - South Africa
  • Georgia Ports Authority, United States
  • DBS Bank - Singapore
  • Kartika Selabumi Mining - Indonesia
  • Power Finance Corporation Ltd., India
  • ING Bank NV - Singapore
  • Standard Chartered Bank - UAE
  • International Coal Ventures Pvt Ltd - India
  • Energy Development Corp, Philippines
  • Leighton Contractors Pty Ltd - Australia
  • Asia Cement - Taiwan
  • Bukit Asam (Persero) Tbk - Indonesia
  • Antam Resourcindo - Indonesia
  • Deloitte Consulting - India
  • Ince & co LLP
  • TeaM Sual Corporation - Philippines
  • Banpu Public Company Limited - Thailand
  • CoalTek, United States
  • Electricity Generating Authority of Thailand
  • PLN Batubara - Indonesia
  • Mercator Lines Limited - India
  • Ambuja Cements Ltd - India
  • Platou - Singapore
  • NALCO India
  • KPMG - USA
  • SASOL - South Africa
  • Indika Energy - Indonesia
  • Larsen & Toubro Limited - India
  • Kumho Petrochemical, South Korea
  • Sinarmas Energy and Mining - Indonesia
  • Qatrana Cement - Jordan
  • Geoservices-GeoAssay Lab
  • Noble Europe Ltd - UK
  • globalCOAL - UK
  • Medco Energi Mining Internasional
  • Alfred C Toepfer International GmbH - Germany
  • Australian Commodity Traders Exchange
  • MS Steel International - UAE
  • Mitra SK Pvt Ltd - India
  • Arutmin Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Riau Bara Harum - Indonesia
  • Petrosea - Indonesia
  • Edison Trading Spa - Italy
  • Baramulti Group, Indonesia
  • White Energy Company Limited
  • Kobexindo Tractors - Indoneisa
  • Jatenergy - Australia
  • Idemitsu - Japan
  • Asian Development Bank
  • Vizag Seaport Private Limited - India
  • Coal and Oil Company - UAE
  • Xstrata Coal
  • Cemex - Philippines
  • WorleyParsons
  • Pipit Mutiara Jaya. PT, Indonesia
  • Thomson Reuters GRC
  • Sical Logistics Limited - India
  • Krishnapatnam Port Company Ltd. - India
  • Directorate Of Revenue Intelligence - India
  • Ministry of Mines - Canada
  • UBS Singapore
  • Eastern Coal Council - USA
  • ANZ Bank - Australia
  • U S Energy Resources
  • World Bank
  • SMG Consultants - Indonesia
  • Thermax Limited - India
  • CCIC - Indonesia
  • Port Waratah Coal Services - Australia
  • Bulk Trading Sa - Switzerland
  • SRK Consulting
  • Parry Sugars Refinery, India
  • Karbindo Abesyapradhi - Indoneisa
  • Core Mineral Indonesia
  • PetroVietnam
  • India Bulls Power Limited - India
  • Indonesia Power. PT