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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- PTC India Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- The University of Queensland
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
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