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Queries i have asked to the reporter...
I have asked some queries
Does Bayernoil repent by anyway by dealing with CALS and will not continue this tie up ahead ?
CALS not answering the phone calls , does it mean they are not ready to face media ?
Is CALS failing to raise the capital and loans ?
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Dear Ram,Could you please guide me on this Counter.With a 2 year perspective should i buy this scrip and what target price can we look at....
Bayernoil Faces Delay in Dismantling Refinery to Ship to India
By Nicholas Comfort
Nov. 23 (Bloomberg) -- The dismantling of a 44-year-old German refinery for shipment to India has been delayed by about a year after financial markets tightened and the buyer, Cals Refineries Ltd., couldn’t raise necessary funds.
Bayernoil Raffinerie GmbH’s 90,000 barrel-a-day facility in Ingolstadt should be taken apart fully by the third quarter of 2010, Managing Director Michael Raue said in a phone interview today. Talks with the Indian company have recently advanced, he said, without elaborating.
The German refiner, a joint venture of four European oil companies, sold the Ingolstadt facility to cut output as consumption of oil products wanes in its home market. Cals has said demand for refining capacity make buying an existing plant and shipping it to India more practical than building a new one.
“Their funding was mowed down by the financial crisis,” said Raue. “It cost about a year.”
Some parts of the plant have already been disassembled, and scanning with lasers to create a three-dimensional map of the refinery has been conducted, the managing director said. He declined to comment on when the facility could be reassembled at the Cals site in Haldia, India.
Vishal Rastogi, an investor relations spokesman for Cals, didn’t immediately respond to an e-mail seeking comment and a call to his office went unanswered.
Bayernoil is concentrating on two other sites as it expects German oil consumption to sink as efficiency measures mean consumers opt for fuels such as diesel over gasoline. The joint venture has three refineries within about 5 kilometers (3 miles) from the center of Ingolstadt, a town in Bavaria where luxury carmaker Audi AG is based.
Bayernoil uses crude from Africa, Venezuela, Norway and Saudi Arabia. OMV AG of Austria owns 45 percent of Bayernoil, according to the company’s Web site. Agip Ltd. owns 20 percent, Ruhr Oel GmbH 25 percent and BP Plc 10 percent.
Lohrmann International GmbH said last year that it oversaw the sale to Cals and is charged with dismantling and shipping the Ingolstadt refinery....
If anyone knows what will happen tomorrow in stock market, he will not spend a single second to write a mail. Whatever we do today is based on our own analysis and prediction though reality can be different. I think instead of blaming other we should do more analysis and try be more correct. I personally welcome people`s opinion based on data and logic.
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Dear Sir,
Cant agree more with you. For a counter like Cals, person should decide in yes/no. Once decided, keep it in kitty for 5-8 yrs.
Regards,
Raja Bahadur...
Nov. 23 (Bloomberg) -- The dismantling of a 44-year-old German refinery for shipment to India has been delayed by about a year after financial markets tightened and the buyer, Cals Refineries Ltd., couldn’t raise necessary funds.
Bayernoil Raffinerie GmbH’s 90,000 barrel-a-day facility in Ingolstadt should be taken apart fully by the third quarter of 2010, Managing Director Michael Raue said in a phone interview today. Talks with the Indian company have recently advanced, he said, without elaborating.
The German refiner, a joint venture of four European oil companies, sold the Ingolstadt facility to cut output as consumption of oil products wanes in its home market. Cals has said demand for refining capacity make buying an existing plant and shipping it to India more practical than building a new one.
“Their funding was mowed down by the financial crisis,” said Raue. “It cost about a year.”
Some parts of the plant have already been disassembled, and scanning with lasers to create a three-dimensional map of the refinery has been conducted, the managing director said. He declined to comment on when the facility could be reassembled at the Cals site in Haldia, India.
Vishal Rastogi, an investor relations spokesman for Cals, didn’t immediately respond to an e-mail seeking comment and a call to his office went unanswered.
Bayernoil is concentrating on two other sites as it expects German oil consumption to sink as efficiency measures mean consumers opt for fuels such as diesel over gasoline. The joint venture has three refineries within about 5 kilometers (3 miles) from the center of Ingolstadt, a town in Bavaria where luxury carmaker Audi AG is based.
Bayernoil uses crude from Africa, Venezuela, Norway and Saudi Arabia. OMV AG of Austria owns 45 percent of Bayernoil, according to the company’s Web site. Agip Ltd. owns 20 percent, Ruhr Oel GmbH 25 percent and BP Plc 10 percent.
Lohrmann International GmbH said last year that it oversaw the sale to Cals and is charged with dismantling and shipping the Ingolstadt refinery.
To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg
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dear boarders see below announcement before blamming ram:
Cals Refineries Ltd has informed BSE that West Bengal Industrial Development Corporation Ltd. has informed the Company that West Bengal Government has extended the guarantee for release of first installment of loan under the incentive scheme approved by the West Bengal Government
Rajeev...
u r right mr ram bhole...
i appreciate u..
ppl cant even hold 50p stock...they dont even see...such small amt 2 invest and still they make fuss...
5 yrs cals will reap stellar returns.....
why people are not trying to understand that cals is a high risk high reward share. everyone want to become millionaire overnight. Ram keep writing. it is to everyones choice which on to select. no right to blame you.
Rajeev...
dear dipak,
thanks for your words... HFCL... yes, I was writing +ve views on HFCL... reality was really different... it went from 19 to 50+ level... whether you ripe that benefit or not... that`s a different matter... for me in share market... there is nothing like bad or good counter... it`s timing...
I don`t mind what you and other people are commenting on me... after all nobody wants to loose money in this market...
YES, I AM A PROUD SHARE HOLDER OF CALS REFINERY... AND SHALL CONTINUE TO BE THE SAME FOR NEXT 5yrs...
I STOP WRITING ON THIS BOARD, NOT BECAUSE I SOLD MY HOLDINGs... BUT BECAUSE THERE IS NOTHING NEW TO WRITE... WHAT IS THE USE OF TRACKING CALS REGULARLY... we have made our decision... let us see...
Regards,
RAM...
Cals Refineries - Progress of Project ......Great News.....recommend a strong buy at CMP.....Buy Buy Buy
Posted by :
jignersh desai
Cals Refineries announced that West Bengal Industrial Development Corporation has informed the company that West Bengal Government has extended the guarantee for release of first installment of loan under the incentive scheme approved by the West Bengal Government.
The company is promoted by a group of individuals having well established businesses in India with a strong global presence in Oil & Gas, hospitality and infrastructure.
With the energy sector playing a pivotal role in global economies, the company aims to actively participate in its growth in India as well as in international mark.
Shares of the company declined Rs 0.02, or 3.64%, to trade at Rs 0.53. The total volume of shares traded was 33,020,036 at the BSE (1.32 p.m., Monday).
Cals Refineries Limited (Q,N,C,F)*...
Cals Refineries - Progress of Project ......Great News.....recommend a strong buy at CMP.....Buy Buy Buy
Posted by :
Guest
Yes it is true.
Cals is going to get the Financila Closure soon.
There is confirmed news from the reliable source.
Expect a positive announcement soon.
Cheers...
Cals Refineries - Progress of Project ......Great News.....recommend a strong buy at CMP.....Buy Buy Buy
Posted by :
instock1980
Correct the plant infrastructure will get completed by 2010 or 2011 start and production may start by mid of 2011. Thats defined in previous project targets of this company .
Thanks , ...
Cals Refineries - Progress of Project ......Great News.....recommend a strong buy at CMP.....Buy Buy Buy
Posted by : cable
hi j2eeprofessiona,
Can you advise more on FC. what is FC ? and do you have idea when the old refinery will be dismantled....
