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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
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