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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said here Friday.
The government, which holds 100 percent stake in CIL, will divest 10 percent through an initial public offer (IPO) of 63.1 crore (63 million) shares, Bhattacharyya told reporters on the sidelines of the 20th Asian Corporate Conference organised by industry lobby CII.
The company will reserve 6.3 crore (63 million) shares for its employees.
“We hope to file the draft red herring prospectus for the issue with Securities Exchange Board of India by mid-June post our annual general meeting,” Bhattacharyya said.
Bhattacharyya added that the company’s net profit would be around $1.7 billion in the current fiscal.
The company is now producing 430 million tonnes of coal, which is expected to reach 700 million tonnes over the next 10 years, Bhattacharyya said.
CIL has also secured exploration licences for two blocks in Mozambique and expects to start work there soon.
“We are expecting one billion tonnes reserves from these blocks,” he said.
Bhattacharyya also spoke about the company’s corporate social responsibilities. “As we are expanding our coal mining operations, its our responsibility to grow more trees than we have cut. We are passionately pursuing the afforestation programme.”
The company is adopting clean technology to reduce the impact of mining on the environment, he said.
Source: Business News - INAS
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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Maharashtra Electricity Regulatory Commission - India
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- Bayan Resources Tbk. - Indonesia
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- MS Steel International - UAE
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- Minerals Council of Australia
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- White Energy Company Limited
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- Tata Chemicals Ltd - India
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- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
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- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
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- Economic Council, Georgia
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- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
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- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
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- Oldendorff Carriers - Singapore
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- Global Green Power PLC Corporation, Philippines
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- Indian Energy Exchange, India
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- PNOC Exploration Corporation - Philippines
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- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
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- Kobexindo Tractors - Indoneisa
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- Price Waterhouse Coopers - Russia
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- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
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- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
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- Straits Asia Resources Limited - Singapore
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- Australian Commodity Traders Exchange
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- Power Finance Corporation Ltd., India
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- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
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- Orica Australia Pty. Ltd.
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- New Zealand Coal & Carbon
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