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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, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- Australian Commodity Traders Exchange
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- Eastern Coal Council - USA
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- Cigading International Bulk Terminal - Indonesia
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- Merrill Lynch Commodities Europe
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- Mercuria Energy - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
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- Banpu Public Company Limited - Thailand
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- Metalloyd Limited - United Kingdom
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- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
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- Aditya Birla Group - India
- SMG Consultants - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- The University of Queensland
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- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
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- Ministry of Finance - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Romanian Commodities Exchange
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