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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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- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
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