“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, January 03, 2009

Binani Cement in talks with FIIs to raise Rs 1,500 cr for new projects

3 Jan 2009, 0004 hrs IST, Mithun Roy, The Economic Times, India 

MUMBAI: Binani Cement has initiated talks with a few foreign institutional investors (FIIs) to raise Rs 1,500 crore for its new projects. 

Binani’s managing director Vinod Juneja has been in talks with FIIs over the past few days to explore various options to fund its two upcoming projects, said a source close to the development. 

Currently, JP Morgan holds a 15% stake in Binani, while Credit Suisse, through a Mauritius-based company, holds another 9.11%. The cement flagship of the diversified Rs 2,500-crore Braj Binani Group has plans for cement and mining projects in Gujarat and Rajasthan in 2009. 

When contacted, Vinod Juneja, managing director of Binani Cement confirmed to ET that the meetings with FIIs had taken place. “These are routine discussions, and we will intimate the stock exchange if any FII or overseas investors invest in the company,” said Mr Juneja. 

Meanwhile, Binani has acquired 25 acres of land in Gujarat. This will be to set up a 2.5 million tonne per annum (MTPA) cement and grinding plant for Rs 800 crore. 

So far, it has already tied up Rs 450 crore through a consortium of six banks, including IDBI and Punjab National Bank. 

It is awaiting the mining policy of the Gujarat government to kickstart the project. It has plans to set up a captive power unit and a jetty facility in the state. 

The company is also likely to form a joint venture with the Rajasthan government for lignite mining. 

Binani has two overseas subsidiaries in Dubai and China, where the company is planning to increase its cement capacities. The company is scouting to acquire a proper coal mining facility near the port area in Indonesia. 

It is expected that cement companies will be under pressure to retain their margins on the back of the current demand-supply dynamics. “There is a need for more infrastructure plans to pump demand,” said an analyst with domestic brokerage firm. 

India has more than 70 cement companies and a total installed capacity of 170 million tonne. According to the Cement Manufacturers’ Association, cement manufacturers will add 110 million tonne to their current production capacities at an investment of around Rs 50,000 crore in the next five years.

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