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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
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