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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- The University of Queensland
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
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