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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, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Videocon Industries ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- The University of Queensland
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
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