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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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Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Kumho Petrochemical, South Korea
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- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
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- Economic Council, Georgia
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- White Energy Company Limited
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- Commonwealth Bank - Australia
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- Medco Energi Mining Internasional
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- VISA Power Limited - India
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- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
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- The Treasury - Australian Government
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- PNOC Exploration Corporation - Philippines
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- Chamber of Mines of South Africa
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- Holcim Trading Pte Ltd - Singapore
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- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
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- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
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- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
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- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
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- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
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- Billiton Holdings Pty Ltd - Australia
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- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
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- GMR Energy Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
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- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- Savvy Resources Ltd - HongKong
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- CIMB Investment Bank - Malaysia
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