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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, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
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