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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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- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- VISA Power Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
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