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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, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
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- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
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