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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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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
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- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
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- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- The University of Queensland
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- PTC India Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
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