Friday, September 30, 2011

Cals Refineries & Hardt Group - Yesterday's TV Interview with Hardt CEO

StockExplain has obtained the video and transcript of yesterday's interview with Alexander Schweickhardt, CEO of Hardt Group, which was done by the leading Indian business channel NDTV Profit. The interview is about Vienna based Hardt Group's proposed equity investment in India's Cals Refineries by supplying two used refineries. The video and transcript are reproduced below:


"Vienna based Hardt group is all set to take over as promoters of Cals Refinery. Hardt is going to complete building the 9 million ton refinery in Haldia. It should be fully functional by 2014 according to Hardt group CEO who spoke to NDTV Profit.  However, the final CCEA approval for initial infusion of $317 million is still awaited.

Here’s the CEO speaking to Raj Kr. Jha – NDTV Profit

“We are not going hostile. I am not bringing my own people  in the company. I bring the best people into the company. We contribute 60% of the equity. It will be acquired by a Luxembourg firm which is managed by Hardt group. The rough investment will be a little bit over $300 million dollars in aggregate plus $ 2 billion (million) dollars in project finance for the implementation of project. It has to be structured into another capital as equity increases…”

(Editors' Remarks: Please note that the above video and text is an interview in NDTV Profit, and is in no way any kind of analysis on the scrip by

(Editors' Update: A transcription error from 'million' to 'billion' was rectified on 09:46 PM IST 1/10/2011)


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    With Warm Regard's

    Bullish Indian !!!!!

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