COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

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 ...


   1295 1296 1297 1298 1299   
Showing 6481 to 6485 news of total 6871
News by Category
Popular News
 
Total Members : 28,619
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • PetroVietnam
  • Runge Indonesia
  • The Treasury - Australian Government
  • The State Trading Corporation of India Ltd
  • Rio Tinto Coal - Australia
  • Standard Chartered Bank - UAE
  • BRS Brokers - Singapore
  • 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
  • Coal Orbis AG
  • Kobe Steel Ltd - Japan
  • Maybank - Singapore
  • 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
  • ING Bank NV - Singapore
  • KPCL - India
  • 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
  • Freeport Indonesia
  • Bharathi Cement Corporation - India
  • Tata Power - India
  • Asmin Koalindo Tuhup - Indonesia
  • Bank of America
  • Mintek Dendrill Indonesia
  • Thai Mozambique Logistica
  • U S Energy Resources
  • CESC Limited - India
  • J M Baxi & Co - India
  • KEPCO - South Korea
  • The University of Queensland
  • Binh Thuan Hamico - Vietnam
  • TANGEDCO India
  • The India Cements Ltd
  • PTC India Limited - India
  • Reliance Power - India
  • Shree Cement - India
  • APGENCO India
  • Moodys - Singapore
  • globalCOAL - UK
  • Samtan Co., Ltd - South Korea
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • NALCO India
  • RBS Sempra - UK
  • Price Waterhouse Coopers - Russia
  • Arch Coal - USA
  • 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
  • KOWEPO - South Korea
  • Ernst & Young Pvt. Ltd.
  • Posco Energy - South Korea
  • SASOL - South Africa
  • Kaltim Prima Coal - Indonesia
  • TRAFIGURA, South Korea
  • Meenaskhi Energy Private Limited - India
  • PLN Batubara - Indonesia
  • Georgia Ports Authority, United States
  • Eastern Energy - Thailand
  • Rudhra Energy - India
  • Qatrana Cement - Jordan
  • DBS Bank - Singapore
  • Rashtriya Ispat Nigam Limited - India
  • Carbofer General Trading SA - India
  • Indian Energy Exchange, India
  • San Jose City I Power Corp, Philippines
  • ANZ Bank - Australia
  • Savvy Resources Ltd - HongKong
  • Xindia Steels Limited - India
  • Cebu Energy, Philippines
  • Mitsui
  • Energy Development Corp, Philippines
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Mitsubishi Corporation
  • Coal and Oil Company - UAE
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Renaissance Capital - South Africa
  • Semirara Mining Corp, Philippines
  • Indian School of Mines
  • bp singapore
  • Fearnleys - India
  • PetroVietnam Power Coal Import and Supply Company
  • Meralco Power Generation, Philippines
  • Electricity Generating Authority of Thailand
  • McConnell Dowell - Australia
  • Intertek Mineral Services - Indonesia
  • SRK Consulting
  • Sucofindo - Indonesia
  • Barclays Capital - USA
  • Cosco
  • Jorong Barutama Greston.PT - Indonesia
  • Semirara Mining and Power Corporation, Philippines
  • Minerals Council of Australia
  • Britmindo - Indonesia
  • Glencore India Pvt. Ltd
  • Independent Power Producers Association of India
  • Planning Commission, India
  • Indika Energy - Indonesia
  • Mechel - Russia
  • Platts
  • Humpuss - Indonesia
  • McKinsey & Co - India
  • Asian Development Bank
  • Central Java Power - Indonesia
  • Malco - India
  • 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
  • Peabody Energy - USA
  • Salva Resources Pvt Ltd - India
  • UBS Singapore
  • Pipit Mutiara Jaya. PT, Indonesia
  • GB Group - China
  • Karbindo Abesyapradhi - Indoneisa
  • Platou - Singapore
  • HSBC - Hong Kong
  • Banpu Public Company Limited - Thailand
  • Ambuja Cements Ltd - India
  • Aboitiz Power Corporation - Philippines
  • IOL Indonesia
  • Japan Coal Energy Center
  • Ministry of Mines - Canada
  • Vizag Seaport Private Limited - India
  • Timah Investasi Mineral - Indoneisa
  • Jatenergy - Australia
  • Global Coal Blending Company Limited - Australia
  • Orica Australia Pty. Ltd.
  • Cigading International Bulk Terminal - Indonesia
  • Marubeni Corporation - India
  • Mitra SK Pvt Ltd - India
  • CIMB Investment Bank - Malaysia
  • Arutmin Indonesia
  • Cargill India Pvt Ltd
  • Power Finance Corporation Ltd., India
  • Thermax Limited - India
  • Parliament of New Zealand
  • London Commodity Brokers - England
  • JPower - Japan
  • Uttam Galva Steels Limited - India
  • Thailand Anthracite
  • Bangladesh Power Developement Board
  • ETA - Dubai
  • Vitol - Bahrain
  • Bangkok Bank PCL
  • Globalindo Alam Lestari - Indonesia
  • World Coal - UK
  • Thiess Contractors Indonesia
  • IMC Shipping - Singapore
  • Africa Commodities Group - South Africa
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • PowerSource Philippines DevCo
  • Cement Manufacturers Association - India
  • Global Green Power PLC Corporation, Philippines
  • GHCL Limited - India
  • Lanco Infratech Ltd - India
  • TGV SRAAC LIMITED, India
  • Videocon Industries ltd - India
  • Leighton Contractors Pty Ltd - Australia
  • Thomson Reuters GRC
  • Bukit Makmur.PT - Indonesia
  • GNFC Limited - India
  • 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
  • Ince & co LLP
  • Sojitz Corporation - Japan
  • Vijayanagar Sugar Pvt Ltd - India
  • Antam Resourcindo - Indonesia
  • Cemex - Philippines
  • Tata Chemicals Ltd - India
  • IBC Asia (S) Pte Ltd
  • Pendopo Energi Batubara - Indonesia
  • Deutsche Bank - India
  • Shenhua Group - China
  • White Energy Company Limited
  • Baramulti Group, Indonesia
  • Geoservices-GeoAssay Lab
  • SGS (Thailand) Limited
  • Chettinad Cement Corporation Ltd - India
  • Bayan Resources Tbk. - Indonesia
  • EMO - The Netherlands
  • Bulk Trading Sa - Switzerland
  • Eastern Coal Council - USA
  • ACC Limited - India
  • EIA - United States
  • 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
  • Lafarge - France
  • Kumho Petrochemical, South Korea
  • MEC Coal - Indonesia
  • UOB Asia (HK) Ltd
  • TNB Fuel Sdn Bhd - Malaysia
  • Bukit Asam (Persero) Tbk - Indonesia
  • Adani Power Ltd - India
  • Permata Bank - Indonesia
  • Bhatia International Limited - India
  • Electricity Authority, New Zealand
  • Gresik Semen - Indonesia
  • Maruti Cements - India
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Grasim Industreis Ltd - India
  • Simpson Spence & Young - Indonesia
  • IHS Mccloskey Coal Group - USA
  • BNP Paribas - Singapore
  • Aditya Birla Group - India
  • Neyveli Lignite Corporation Ltd, - India
  • Sindya Power Generating Company Private Ltd
  • Core Mineral Indonesia
  • Gupta Coal India Ltd
  • Goldman Sachs - Singapore
  • Maheswari Brothers Coal Limited - India
  • Asia Cement - Taiwan
  • Jindal Steel & Power Ltd - India
  • Australian Commodity Traders Exchange
  • Panama Canal Authority
  • Coeclerici Indonesia
  • Mercuria Energy - Indonesia
  • Vale Mozambique
  • Bahari Cakrawala Sebuku - Indonesia
  • ICICI Bank Limited - India
  • Chamber of Mines of South Africa
  • Gujarat Electricity Regulatory Commission - India
  • Central Electricity Authority - India
  • Cardiff University - UK
  • Enel Italy
  • CCIC - Indonesia
  • TNPL - India
  • Noble Europe Ltd - UK
  • Jaiprakash Power Ventures ltd
  • Inco-Indonesia
  • Petron Corporation, Philippines
  • Ministry of Transport, Egypt
  • Altura Mining Limited, Indonesia
  • Commonwealth Bank - Australia
  • Total Coal South Africa
  • Idemitsu - Japan
  • Interocean Group of Companies - India
  • Petrosea - Indonesia
  • Argus Media - Singapore
  • CoalTek, United States
  • Sical Logistics Limited - India
  • IEA Clean Coal Centre - UK
  • SUEK AG - Indonesia
  • Romanian Commodities Exchange
  • World Bank
  • Bhoruka Overseas - Indonesia
  • Indonesia Power. PT
  • JPMorgan - India
  • Latin American Coal - Colombia
  • Makarim & Taira - Indonesia
  • European Bulk Services B.V. - Netherlands
  • Larsen & Toubro Limited - India
  • Ceylon Electricity Board - Sri Lanka
  • Coal India Limited
  • Vedanta Resources Plc - India
  • Trasteel International SA, Italy
  • NTPC Limited - India
  • Krishnapatnam Port Company Ltd. - India
  • AsiaOL BioFuels Corp., Philippines
  • Bank of China, Malaysia
  • Kartika Selabumi Mining - Indonesia
  • KPMG - USA
  • Maersk Broker
  • Oldendorff Carriers - Singapore
  • India Bulls Power Limited - India
  • Sarangani Energy Corporation, Philippines
  • SMC Global Power, Philippines
  • Indorama - Singapore
  • Toyota Tsusho Corporation, Japan
  • Xstrata Coal
  • OCBC - Singapore
  • Directorate General of MIneral and Coal - Indonesia
  • Infraline Energy - India
  • Samsung - South Korea
  • TeaM Sual Corporation - Philippines
  • Bukit Baiduri Energy - Indonesia
  • Tanito Harum - Indonesia
  • Essar Steel Hazira Ltd - India
  • Kobexindo Tractors - Indoneisa
  • SMG Consultants - Indonesia
  • Adaro Indonesia
  • Coaltrans Conferences
  • Singapore Mercantile Exchange
  • Surastha Cement
  • Merrill Lynch Bank
  • Miang Besar Coal Terminal - Indonesia
  • Clarksons - UK
  • Pinang Coal Indonesia
  • PNOC Exploration Corporation - Philippines
  • New Zealand Coal & Carbon
  • Petrochimia International Co. Ltd.- Taiwan
  • Maharashtra Electricity Regulatory Commission - India
  • South Luzon Thermal Energy Corporation
  • WorleyParsons
  • 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
  • Berau Coal - Indonesia
  • Thriveni
  • Credit Suisse - India
  • 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
  • PLN - Indonesia
  • Inspectorate - India
  • Parry Sugars Refinery, India
  • SN Aboitiz Power Inc, Philippines
  • Energy Link Ltd, New Zealand
  • Russian Coal LLC
  • GMR Energy Limited - India
  • Tamil Nadu electricity Board