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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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Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
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