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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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Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- White Energy Company Limited
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
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