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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
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