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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, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Latin American Coal - Colombia
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- Essar Steel Hazira Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
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- Energy Link Ltd, New Zealand
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- Savvy Resources Ltd - HongKong
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- Carbofer General Trading SA - India
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- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
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- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
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- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
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- Central Electricity Authority - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
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- Malabar Cements Ltd - India
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- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
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- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
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- The State Trading Corporation of India Ltd
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- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
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- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
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- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
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- Kideco Jaya Agung - Indonesia
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- Georgia Ports Authority, United States
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- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
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- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
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