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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- London Commodity Brokers - England
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
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