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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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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 ...
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- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- 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
- 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
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- 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
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- 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
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- 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
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
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