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Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
 Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal has been established.
MGL gets access to good grade coal with a coal to OB ratio of 1:3.5, having a very low sulphur content of mere 0.14%.
MGL becomes one of the very few Indian companies to be able to take over the prestigious Coal Contract of Works (CCOW) awarded by the Government of Indonesia.
MIEL through MGL will use this produce for its planned coast based Power Projects.
Plans to use coal for captive needs and also for selling the surplus in the open market which will be a long term source of revenue for the Company.
COALspot.com - Monnet Ispat & Energy Limited (MIEL) through its 100 % owned subsidiary Monnet Global Limited (MGL), completed the acquisition of Indonesian Coal Company – PT Sarwa Sembada Karya Bumi, at US$ 24 million in the Jambi province of Sumatra, Indonesia, according to the news posted in website of Monnet Ispat & Energy Limited
The news published in website further said that, the acquisition gives MGL, access to one of the largest Thermal Coal Mine spreading over an area of 25,000 hectares. Presently, only 1500 hectares out of the entire 25,000 hectares have been explored and the company has been able to establish 65 million tonne of coal reserves in the mine and expects these reserves to go up substantially after completing exploration of the total land area.
The prestigious Coal Contract of Works (CCOW) also called (Perjanjian Karya Pengusahaan Pertambangan Batubara) PKP2B, which was awarded, to PT Sarwa, by the Government of Indonesia, subsequent to the acquisition gets transferred to MGL, making it amongst the very few Indian companies to have CCOW.
Commenting on the successful conclusion of the agreement, Mr. Sandeep Jajodia, Executive Vice Chairman & Managing Director, Monnet Group said, “The acquisition of the Indonesian Coal Company PT Sarwa is of strategic importance for the Group as the logistic of the mine is excellent and being located in Sumatra, the shipping cost and low transit time to India will make the coal very cost effective. It will also provide, low cost fuel for our planned coast based Power Projects. We plan to mine more coal than required for our captive needs, for selling in the open market which will be a long term source of revenue, as there seems to be good potential for the reserves to go up substantially. The worldwide coal markets are expected to do very well in the coming years and especially India and China would remain strong buyers.”
“Keeping in mind the high coal prices, the valuation of such coal assets have gone up many folds in the recent times. We have been able to close the deal at a very low value as the agreement with PT Sarwa was initially executed in 2008 however the process and regulatory procedures for actual transfer took a long time to finally close the deal.” Mr. Jajodia further shared.
About Monnet Group:
Monnet Global Limited (MGL): MGL a wholly owned subsidiary of Monnet Ispat & Energy Limited having offices in Dubai, Jakarta and Johannesburg (South Africa), does all the global acquisitions and mergers for the group.
Monnet Ispat & Energy Limited (MIEL): MIEL is promoted by Mr. Sandeep Jajodia. As the second largest coal based sponge iron producer in India and an integrated steel player, the Group has an added advantage of operating largest underground coal mine in the country besides mining other raw material for captive use.
MIEL has manufacturing facilities in Raipur & Raigarh in Chhattisgarh and is currently implementing its ambitious 1.5 MTPA integrated steel plant at Raigarh at a cost of US$ 1 billion, Chhattisgarh to produce plates, structural and rebar’s.
Group’s future plans also includes investing another US$ 3.2 billion in installing power capacity of 3000 MW of which 1050 MW of IPP backed with captive coal mine is fast coming up in Angul, Orissa and would emerge as amongst the lowest cost generating units in the world.
MIEL, a leading enterprise in its field, is making rapid expansion to leverage its competitive edge in advantage by further integrating operations both backwards and forwards and moving up the value chain.
Monnet Power Company Limited (MPCL): MPCL is currently executing a 1050 MW IPP in the state of Orissa backed by captive coal mines. The project consists of 2 units of 525 MW to be supplied by BHEL. The project has all its statutory approvals & clearances in place and has achieved financial closure. Both of these 525 MW each unit is expected to get commissioned between September and December 2012. The Company is now in the process of developing an additional 2000 MW which is expected to come up by June 2014.
Further information is available at http://www.monnetgroup.com
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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- The University of Queensland
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
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