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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, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
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- Indogreen Group - Indonesia
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- GVK Power & Infra Limited - India
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- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
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- Independent Power Producers Association of India
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- Indian Oil Corporation Limited
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- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
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- Bangladesh Power Developement Board
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- Central Electricity Authority - India
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- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
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- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
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- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
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- Aditya Birla Group - India
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- The Treasury - Australian Government
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- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
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- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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