Archive for July, 2009
Spice Exploration
After the formation of Spice-Jet in 2005, the very next year in 2006… Mr. Malhotra venture in to Energy field… this time he formed a small Co. called Spice Exploration… joins hands with Mr. Andaleeb Sehgal (CEO of Spice Exploration) who has 17 years of trading experience in various core sector commodities… including extensive experience in the Russian, CIS and Middle East markets… Then Mr. S. K. Sharma join their team as a Vice President of Spice Exploration(now VP SRM Exploration)… Mr. Sarma, a 40 yr verten of ONGC, has served the company in various capacities at many different locations across the country… Further, as Advisor (Logging) - Corporate, ONGC, Mr. Sharma pioneered the setting up of a Centre for Excellence in Well Logging Technology (CEWELL) for ONGC, at Vadodara. He also played an advisory role on crucial/critical issues related to well logging, Exploration and Exploitation… with this strong team Mr. Malhotra enter in to a JV: Cobit-SRM, with Congo-Bitume from the Democratic Republic of Congo (DRC), in which SRM Exploration (a subsidiary of Spice Exploration) has a 51% stakes on 01 Jun 2006… 01 Nov 2006 they signed a Concession Agreement with the Government of D. R. Congo for the Exploration and Production of Hydrocarbons in the Mavuma Block… AJM Petroleum Consultants (Canada) was awarded the contract to complete the Geo-technical Report on the Mavuma Block… which they have submitted on 05 Mar 2008… As per my knowledge it`s encouraging… In addition they also acquire one shallow water exploration block in Indonesia, and plans to acquire proven oil blocks in the North East of India (as per my knowledge, made substantial progress)… I think, they are also planning to bring GAS to Haldia from Indonesia… within 3 yrs, quite substantial performance
Cals Management Team
Shareholding pattern
Out of 794 crores equity shares,
a)92.59 percent is in the form of Depository Receipts. (above 735 crores)
Break-up of the remaining 7.41%:-
b) Promoters - 0.11% (87 lakhs)
c)FIIs, MF etc - 2.15% (approx 17 crores)
d)Corp bodies - 2.41% (approx 20 crores)
e)Individuals - 2.71% (approx 20 crores)
f) Trusts/NRIs - .03 (approx 25 lakhs)
Alufluoride Ltd
Alufluoride Board recommends Dividend
Alufluoride Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 13, 2009, inter alia, had recommended a dividend of 12% on the Equity Shares of the Company subject to approval of the members in the Annual General Meeting to be held on September 25, 2009.
Shaktiman Mercantile Company Ltd
Shaktiman Mercantile Board to consider Dividend
Shaktiman Mercantile Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 21, 2009, inter alia, to transact the following business:
1. To take on record the Audited Balance Sheet as on March 31, 2009, along with the Audited Profit and Loss Account and the Schedules thereto.
2. To take on record the Auditors’ Report for the Financial Year ending March 31, 2009.
3. To recommend a dividend ror the equity shares of the Company for the Financial Year ending March 31, 2009.
4. To approve the Directors’ Report of the Company for the Financial Year ending on March 31, 2009.
5. To convene the Annual General Meeting of the Company, as per the provisions of Section 166 of the Companies Act, 1956.
6. To decide on the Book Closure and record date for the purpose of the AGM.
cals to get benefit of extended tax holiday
Source : Business Standard
Cals Refineries delays plant start up
NEW DELHI (Reuters) - India’s Cals Refineries Ltd has delayed start-up of its planned 100,000 bpd refinery in eastern India by over a year to July 2011, its chief executive said, joining the list of deferred projects worldwide due to economic downturn.
In 2007 Cals Refineries, a part of Spice Energy group, bought a standing refinery from German firm Bayernoil and planned to reconstruct it in West Bengal.
The project was now expected to be commissioned by June-July 2011 compared to the initial estimates of first quarter of 2010, Manabendra Guha Roy told Reuters in a telephone interview.
“Because of the (economic) slowdown we faced some difficulty in financial closure. We made progress in the plant through our equity but we would like financial closure to be completed to go further, which will be done by July,” he said.
He said his firm has already invested $200 million in the project and will infuse an equal amount by July.
Cals Refineries has appointed merchant bank SBI (SBIN.NS : 1604.05 +23.35
) Caps to arrange $700 million debt by end-July, he said.
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Cals to set up 3 refineries
Cals Refineries, a Delhi-based company, has signed a land deal with two agencies of the West Bengal government for a Rs 20,000-crore plan for three refineries in the port town of Haldia and the Nayachar river island off Haldia, giving a fillip to the state’s plans for a chemical hub.
Manabendra Guha Roy, chief executive officer of the BSE-listed company, on Wednesday signed a memorandum of understanding with West Bengal Industrial Development Corp managing director MV Rao and the Haldia Development Authority’s CEO, Parwez Ahmed Siddiqui.
In the first two phases, Cals is to invest Rs 8,000 crore in two refineries at Haldia, each of 5 million tonne, requiring a total of around 1000 acres.
“These will be standard refineries, produce various grades of petrol, diesel, naphtha and LPG,” Guha Roy said. They will also supply naphtha to Haldia Petrochemicals Ltd.
“We are in talks with various companies for export of the petrol and diesel,” Guha Roy told FE.
Cals is also trying to rope in BP as an equity partner, Guha Roy said. The Nayachar refinery would come up in the third phase, at a cost of Rs 12,000 crore. Guha Roy said this would use new technology to maximize feedstock for downstream petrochemicals industries.
Chief Minister Buddhadeb Bhattacharjee, commerce & industries minister Nirupam Sen and HDA Chairman Lakshman Seth were present at the signing of the MoU.
Sen noted that Indian Oil Corp would be increasing the capacity of its refineries at Haldia to 12.5 million tonne over the next two years, and the MoU signed today is an important milestone towards the proposed PCPIR or Petroleum, Chemical, Petrochemicals Investment Region (PCPIR).
Hailing the Cals project as being ‘important’ for the state, the Chief Minister said it would create about 8,000 jobs, mainly in downstream projects, on completion.
Shiva Texyarn Ltd
Shiva Texyarn fixes Book Closure for Dividend & AGM
Shiva Texyarn Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 17, 2009 to September 23, 2009 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company to be held on September 23, 2009.
Era Infra Engineering Ltd
Era Infra Board to consider Dividend
Era Infra Engineering Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 13, 2009, inter alia, to consider and approve the following:
1. To consider and approve the Annual Audited Financial Accounts of the Company for the year ended March 31, 2009.
2. To recommend, dividend, if any, and to fix the date of next Annual General Meeting of the Company.
3. To consider raising of funds, whether from India or abroad, by way of issue of Equity Shares or any other Securities convertible into equity shares through warrants / Depository Receipts / FCCB / QIP.
4. To increase the limit of FII investment from existing 40% to 65% of the paid up share capital of the Company.
5. To consider increase in Authorised Share Capital of the Company.