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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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Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Global Business Power Corporation, Philippines
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- Indian Energy Exchange, India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- VISA Power Limited - India
- Aditya Birla Group - India
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- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
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- Energy Link Ltd, New Zealand
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- Price Waterhouse Coopers - Russia
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- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
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- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
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- MS Steel International - UAE
- Ambuja Cements Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
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- Parliament of New Zealand
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
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- Thai Mozambique Logistica
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- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
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- Ministry of Transport, Egypt
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- Sarangani Energy Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
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- Ministry of Mines - Canada
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- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
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- Independent Power Producers Association of India
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- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
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