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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 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Australian Coal Association
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
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