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Friday, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first semester of 2009 as part of a plan to expand in the mining sector.
Wika finance director Ganda Kusuma said Wednesday this was to take advantage of openings in the power sector, as Wika already works on power plant projects.
“We have finalized the due diligence process (for the acquisition),” Gandi said but refused to mention the acquisition value or the name of the contractor, as negotiations are still underway.
He added that Wika planned to acquire a 70 percent stake in the mining company and would finance the acquisition with its cash reserves, which now amounted to Rp 500 billion (US$42 million), of which Rp 307 billion are the proceeds from an initial public offering (IPO) carried out in 2007.
Wika offered 31.7 percent of its stake to the public in September 2007 and secured about Rp 775 billion in sales revenue proceeds in return.
The IPO diluted the government share of overall ownership in the company down to 68.3 percent. Since then, the company has continued with construction projects, mostly contracted by government .
Wika recently won several PLN power plant project contracts, including Muara Karang in Jakarta; Indramayu and Pelabuhan Ratu in West Java, Labuan Banten power plant in Banten, and several other power plant contracts in Sumatera, Sulawesi and Kalimantan.
Ganda said that Wika also plans to look for mining concessions. The company expects a 16 percent jump in revenue to Rp 7.4 trillion this year from about Rp 6.4 trillion in 2008, given that government will spend huge state funds this and next year on infrastructure projects.
Its net profit is also expected to rise by 21.5 percent to Rp 175 billion from the estimated Rp 144 billion in 2008.
Wika has also recently won a contract to build a large dam in Batam worth Rp 225 billion. The company is hoping to benefit from the government infrastructure investment program in 2009 as the state budget has already allocated Rp 34.98 trillion to the public works ministry for this.
Wika is now looking at project opportunities arising from state companies, such as state power company PT Perusahaan Listrik Negara (PLN) now in the process of completing the construction of its first 10,000 MW coal-fired power plant program, with Wika participation, and about to launch a second 10,000 MW program later this year.
Sources: The Jakarta Post
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Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
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- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
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- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
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- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
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- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
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- MS Steel International - UAE
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- The State Trading Corporation of India Ltd
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- Eastern Energy - Thailand
- Independent Power Producers Association of India
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- Petron Corporation, Philippines
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- Global Business Power Corporation, Philippines
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- Economic Council, Georgia
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- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
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- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
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- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
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- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
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- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
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