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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
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