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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
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
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- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
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