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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, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
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