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Godd News Reg Cals Financial Closure..
Posted by :
stockmirchi
It was a live Interview of L & T CFO. who made this statement. this was addressed to across industry in general as every ones FC is stuck/Delayed due to Economic situation. Pls note that cals is not the client of L&T.
The statement actaully gives an clear indication of the current situation Acrross Industries......
Fundamental Question about the company
Posted by : stockmirchi
Hi Nishy,
The company has raised funds through equity as it is a set up project. This usually takes 5 to 6 years to complete the project of this magnitude, Cals has been sanctioned more than 1000 Acres of Land in Haldia by WB Govt. All environment clearences received. Now the Fencing and leveling work almost completing. . The State Govt has also signed an MOU with CALS Refinery Ltd. for setting up a crude oil refinery complex in the PCPIR with a capacity to process 5 MMTPA of blend crude in Phase I of the project and will consist of process units, utilities and offsites. These facilities will be installed by transplanting a Bayer Oil refinery at Ingolstatd, Germany and Petro Canada Refinery at Canada to Haldia.
The Fendamentals are excellent. but do remember that this investment should be for long term eg: more than 3 years.
Usually the start up project takes 5 to 6 years to actually start the production But... Cals would take only 18 Months to max 20 months to start up production as it is re-Installing the refinery in Haldia-India (BayerOil refinery and Petro Canada Refinery after dismentaling it in the respective contries) Please read my previous comments to under the details which will surely clear ur doubts.
for complete information try to read atleast next 10 to 15 pages on this Board....
Fundamental Question about the company
Posted by :
j2eeprofessionaits not required...or else Reliance power, indiabulls power etc could not have come with their IPOs...
Fundamental Question about the company
Posted by :
Nishy
Hi I have a fundamental question of this company . What did they do before setting up this 5 MMTPA refinery at Haldia ? Why is that their source of funds only indicate
money raised through Equity ?
I thought a company needs to be atleast functional before they can float shares . I am a newbie , please calrify
...
I do not see any reason why Mr Ram Bhole need to run away.
It very simple, we have been on board for quite long and had discussion and information exchange previously. So most of the genuine investors know fact of the company. Is it necessary to discuss or go through the same every morning ? good information is available on this board just go through it....
You Must Read This To Clear all Doubts
Posted by : stockmirchi
Date – 03-Nov-2009
In pursuance of the PCPIR policy of the Government of India and the approval of the Cabinet Committee on Economic Affairs (CCEA) in February 2009, the Department of Chemicals and Petrochemicals, Government of India entered into a Memorandum of Agreement today with the Government of West Bengal to set up a PCPIR at Haldia. The PCPIR policy is a window to ensure the adoption of a holistic approach to the development of global scale industrial clusters in the petroleum, chemical and petrochemical sectors in an integrated and environment friendly manner. The idea is to ensure the setting up of industrial estates in a planned manner with a view to achieve synergies and for value added manufacturing, research and development.
The Government of West Bengal proposed to host a PCPIR in Haldia in Purba Medinipur district covering the existing Haldia Municipal Area and the adjoining areas of Haldia Development Authority (including Nayachar Island). It will cover an area of 250.19 sq.kms, which includes 200.83 sq.kms on the mainland and 49.36 sq.kms on the Nayachar Island. It will exclude the CRZ I (i) area of 2.64 sq.kms on the island. The processing area of 108.42 sq kms is 43.33% of the total area and hence in conformity with the PCPIR policy that states that the minimum processing area for the PCPIR will be about 40% of the total designated area. The balance 141.77 sq. kms will be used as Non-Processing area and will include residential, commercial and other social and institutional infrastructure.
The Govt. of West Bengal proposes to notify the WBPCPIR under Section 9 (3) of West Bengal Town and Country (Planning and Development) Act, 1979. The State Government proposes to constitute a WBPCPIR Development Authority as the Development Authority for the notified area under Section 11 of the West Bengal Town and Country (Planning and Development) Act, 1979.
State Government has estimated a total investment of Rs. 93,180 crore in the proposed PCPIR, including a committed investment of Rs. 48,180 crore. The total employment generation from the WBPCPIR is expected to be 10 lakh persons, which includes direct employment to 4 lakh persons.
The proposal envisages development of physical infrastructure such as roads, rail, air links, ports, water supply, power etc. at a cost of Rs. 18,031 crores. The State Government has sought support from Government of India of Rs. 2108 crore involving road works, port facilities and a submarine cable landing station.
The major processing activities in the region at present are in the petroleum, petrochemical and chemical sectors. The leading among them are IOCL, Haldia Petrochemicals, MCCPTA India Corp Pvt Ltd, Tata Chemicals Ltd, Exide Industries Ltd, Shaw Wallace and Co. Ltd etc. The investment in the region from the existing units is about Rs. 12,872.5 crores. The State Govt has identified Indian Oil Corporation Limited (IOCL) and CALS Refinery Ltd. as the anchor tenants. IOCL has taken up expansion of its existing refinery from 6 MMTPA to 7.5 MMTPA with installation of a new hydro cracker unit as its matching secondary facilities at a cost of Rs. 3000 crore. IOCL also plans to initiate a techno economic feasibility study for setting up a grassroot refinery of 15 MMTPA capacity at Haldia, integrated with downstream petrochemical facilties. IOCL has already laid a dedicated crude pipeline from Paradip to Haldia. The State Govt has also signed an MOU with CALS Refinery Ltd. for setting up a crude oil refinery complex in the PCPIR with a capacity to process 5 MMTPA of blend crude in Phase I of the project and will consist of process units, utilities and offsites. These facilities will be installed by transplanting a Bayer Oil refinery at Ingolstatd, Germany and Petro Canada Refinery at Canada to Haldia.
The State Government has carried out a Preliminary Environment Impact Assessment (EIA). The State Government also proposes to carry out a comprehensive EIA for the PCPIR in accordance with the Ministry of Environment and Forests, Government of India. The detailed EIA study will require a time frame of about 12 months beginning with the approval of Terms of Reference for this study by the guidelines of Ministry of Environment and Forests. All existing labour laws of the country would be applicable in the PCPIR and SEZs, in the region, if any, would be governed by special laws, as approved by Government of India.
...
Financial Closure may be in its last Stage of formalities - As Central Govt approvals/Sactions for Haldia Hub
Posted by : stockmirchi
Dear Friends you need to understand that my previous comments regarding FC very clearly states that Almost all Companies in the Market who are waiting for their respective Financial Closures is delayed since last 5 to 6 months this is accross the industries, Cals Refineries Ltd is one of these companies waiting for Financial Closure. This Delay " WAS " eventually due to the Economic situation (Ressesion) due to which all the Banks / Financial Institutions had delayed the financial closures across Industries on PRECAUTIONARY Measures... Thats all the "Delay" Is all about...
Friends, As per my asumption and study of the current situation. FC is going to happen very soon, maybe by Dec 09 or latest by Jan-10.
Central Government has also signed Mou with the state Govt and had given all the required approvals and has also sactioned Huge Funds for the Haldia petro chemical hub for infrastructure development(Roads, Ports etc etc).
Please Note that Cals Refineries Ltd has been officially Declared as an "Anchor" Tenant by the state Government....
Reg my Previous Comment of Financial closure
Posted by : stockmirchiDear Friends you need to understand that my previous comments regarding FC very clearly states that Almost all Companies in the Market who are waiting for their respective Financial Closures is delayed since last 5 to 6 months this is accross the industries, Cals Refineries Ltd is one of these companies waiting for Financial Closure. This Delay ...
peace is achievable by two type of people only
either you become greatest fool or become saint.
First type may be achievable by you as share market is full of great fools. For that you have to buy CALS at Rs 100 or so!
Do you still want to take 2nd option????...
simpliy brokars are playing ..... they dont want live this company...
will this go down to 50?...
will this go down to 50?...
Looks like Ram Bhole has run away....
gold mine for investing?
I hv some fumdamental questions on CALS..
a] Land for this refinery is in west bengal , The envoirmental clearances still not received.
b] Fin colousre. will not happen any time soon.
c] Dismantling of the old ref plant over seas to be shipped to india . Hearing this for last many years. does it make sense that some[ ocerseas ] company wants to sell it plant old and keeps on waiting for one prospective customer for years to arrange money for this buy out. I am sure if they are seruios in selling their old machines they will get good buyer with the ready cash.
therefore CALS is a perfect story telleing penny stock to be riding on in the bull market , when any thing and every thing fly high in the market.
Till that bull market time comes . just have fun chating and keeping your self busy
...
Although I agree with you but would also like to highlight that investor or consumer rights in this country does non existent and companies can get away with any fraud or malpractices and so you see so much apprehension against companies such as CALS ...
