IOC is mulling to set up a refinery in Turkey. IOC may pump in $5 billion (approx Rs 22,750 crore) in setting up the refinery for which feasibility work is being carried out. The refinery is to have a capacity of 15 million tonne.

Earlier, the company had planned to build a refinery with Turkey's Calik Holding at the Mediterranean port of Ceyhan, where pipelines carrying Iraqi and Azeri crude terminate. Plans for that plant were put on hold during the global financial crisis in 2008.

NTPC is considering reviving its plans to set up coal and gas based power projects in Nigeria. The proposal had been scrapped by the company due to a delay in finalising a partner for the proposed venture. The Nigerian partner wanted an equity stake in the power projects to be set up by NTPC in lieu of using their influence to get the gas agreement signed. However, NTPC had already signed an MoU with the Nigerian Government for the same.

As per the original plan, Nigeria was to ensure the supply of three million tonne of gas ever year for its projects in India. In return for the gas, NTPC was to build a 700 MW gas based power plant and a 500 MW coal based plant and renovate a 200 MW unit at a 1,320 MW plant as well.

SAIL plans to set up a three million tpa steel plant in Mongolia. The project is estimated to cost of Rs 15,000 crore. The company is currently in talks with the Mongolian Government and the deal is expected to be finalised if Mongolia provides SAIL with raw material linkages and land. Once a formal agreement is signed, the plant may come up in a span of two-and-a-half years.

SAIL has chalked out an investment plan to set up four steel plants overseas.

The company has earmarked $12 billion (approx Rs 54,600 crore) to set up these steel plants abroad. The capex plan is to be funded with 70-80 per cent debt and the rest via equity. SAIL may bring in strategic investors for these projects.

Each of these units is likely to have a capacity of three million tpa. They are likely to be located in Mongolia, South Africa, Oman and Indonesia. SAIL is holding discussions with the governments of these countries to secure supplies of coking coal, iron ore and gas.

Currently, SAIL is holding discussions with the Mongolia Government to secure raw materials for the proposed steel plant there. Further, it is in parleys with the Oman Government to set up a gas based steel plant with an investment of $3 billion (approx Rs 13,650 crore). In Indonesia, the company plans to set up a three million tpa steel plant in Kalimantan province.

Uflex, the Noida based flexible packaging company, proposes to set up a plant at Wrzesnia in Poland with an investment of $80 million (around Rs 360 crore). The investment will be made partly from debt and partly from internal accruals.

Land acquisition for the project is almost complete. The new plant is to have a capacity of about 30,000 tonne. It is slated to be operational in June 2012. The company also plans to add manufacturing lines for new product categories at its existing facilities in Egypt, Mexico and India with aggregate investments in excess of $250 million (approx Rs 1,125 crore) over the next year.

The Ruia Group has acquired Germany based automotive fasteners manufacturer Acument GmH & Co KG. The Group has taken over the automotive fasteners company from Acument Global Technologies Inc for an undisclosed amount incorporating a new company, Ruia Global Fasteners AG. The deal will be financed from internal accruals and three years' sellers' credit.

It has acquired four plants in Neuss, Beckingen, Neuwied and Schorzberg and a logistics centre in Koln of Acument Germany, which had gone into insolvency in August 2009.

Mercator Lines, a shipping company, is planning to develop a coal mine in the Batuah region of Kalimantan province in Indonesia.

The company is likely to invest about Rs 250 crore for the proposed project. It will take up the project via a JV with an Indonesian firm PT United Coal Indonesia (PT UCI) to develop the infrastructure for the mining project. The ownership of the mine will continue to remain with PT UCI. Mercator owns four coal mines in Indonesia with total reserves of about 70 million tonne.

Birla in pact to acquire Columbian Chemicals

The Aditya Birla Group on 31 January 2011 signed a definitive agreement to acquire US based Columbian Chemicals Company (CCC).

The Group has acquired One Equity Partners' equity in CCC through its associates, Alexandria Carbon Black Company and Thai Carbon Black Company, along with SKI Investment, an Aditya Birla Group Company. Alexandria Carbon Black and Thailand Thailandbased Hi Carbon Black will be holding 21 per cent each and the remaining will be held by SKI.

The deal has reportedly been valued at $875 million (approx Rs 3,937.5 crore). The acquisition is subject to customary approvals. The deal is expected to be finalised in the second half of 2011.

ANZ, Bank of America, HSBC, Royal Bank of Scotland and Standard Chartered are participating in the financing of the transaction and were also the financial advisors for the acquisition.

Sterlite completes South Africa coal mine acquisition

Sterlite Industries on 4 February 2011 completed the acquisition of stake in Black Mountain Mines in South Africa.

The company has acquired a 74 per cent stake in Black Mountain Mines from Anglo Operations for $260 million (approx Rs 1,170 crore). It is expected to replace a shareholder loan for $88 million (approx Rs 396 crore) which takes the total value of the deal to $348 million (approx Rs 1,566 crore).

The acquisition includes Black Mountain zinc mine and Gamsberg project in South Africa. The company also completed the acquisition of the Lisheen Zinc Mine in Ireland from Taurus International S.A, a member of the Anglo American Plc Group.

The acquisition has been completed for a value of around $546 million (approx Rs 2,484.3 crore), which includes around $275 million (approx Rs 1,251.25 crore) against cash balance available at Lisheen as on date.