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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, 13 February 09
INDONESIA IS EXPECTED TO PRODUCE 225 MILLION TONES OF COAL IN 2009 - ENERGY MINISTRY
Indonesia, the world's top thermal coal exporter, will allocate 68.3 million tonnes of coal out of expected forecast production of 225 million ton ...
Friday, 06 February 09
INDONESIA'S COAL PORTS HAVE FORCED A RETHINK ON 'TRADITIONAL' HANDLING OPTIONS
Port Strategy reported that, Indonesia’s main coal-producing islands of Kalimantan, Sulawesi and Sumatra suffer from a scarcity of suitable la ...
Thursday, 22 January 09
MINISTER: MINING LAW PROHIBITS RAW MATERIAL EXPORT - ESDM
The Coal and Mining Law, approved during the House of Representatives plenary meeting on December 16, 2008 seeks to domestically increase mining com ...
Wednesday, 07 January 09
SOUTH KALIMANTAN COAL PRODUCTION EXPECTED TO INCREASE - ESDM
Coal production from the South Kalimantan region has the potential to increase in the next few years. Aside from the vast proven reserves of coal, s ...
Tuesday, 30 November 99
GLENCORE EXPECTS 2023 TRADING UNIT PROFITS OF UP TO $4 BLN - REUTERS
Glencore GLEN.L on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
...
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- Energy Development Corp, Philippines
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- Australian Commodity Traders Exchange
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- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
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- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
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- Africa Commodities Group - South Africa
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- Samtan Co., Ltd - South Korea
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- Electricity Generating Authority of Thailand
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- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
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- Indonesian Coal Mining Association
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- White Energy Company Limited
- Heidelberg Cement - Germany
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- Bangladesh Power Developement Board
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
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- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
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- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
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- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
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- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
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- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
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- Electricity Authority, New Zealand
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- Lanco Infratech Ltd - India
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- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
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- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
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