We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
|
|
|
Showing 121 to 125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- The University of Queensland
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
|
| |
| |
|
