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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
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