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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Planning Commission, India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Tamil Nadu electricity Board
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