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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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Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Coal and Oil Company - UAE
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