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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, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
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