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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
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