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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
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- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
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- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
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- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
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- Singapore Mercantile Exchange
- ASAPP Information Group - India
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- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
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- PNOC Exploration Corporation - Philippines
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- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
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- Krishnapatnam Port Company Ltd. - India
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- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
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- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Kobexindo Tractors - Indoneisa
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