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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
  Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power Limited (“VPL”, “VISA Power” or “the Company”), an independent power producer (“IPP”) whose core asset is a 1,200 MW captive-mine based, coal fired power plant in Chhattisgarh which is in an advanced stage of development. VISA Power has a pipeline of a further 6,600 MW under development, including a 1,320 MW coal-based super critical power plant in Orissa, which is also in an advanced stage of development. The Company also proposes to develop power projects in Madhya Pradesh, Jharkhand and Gujarat. VISA Power is part of the INR 50.0 Bn ($1.1 bn) VISA Group, which is a minerals, metals and energy conglomerate with business interests in steel, power, mining, international trading, shipping and logistics.
Commenting on the association, Vishambhar Saran, the Founder and Chairman of the VISA Group, and Chairman of VISA Power said: “The Power sector in India is going through an exciting phase of growth which is critical to sustain the country’s high levels of economic and industrial growth, and unlock India’s economic potential. We are glad that Blackstone shares our vision. Hopefully, together we can create a leading power company.”
Vikas Agarwal, the Managing Director of VISA Power added: “We are delighted to partner with Blackstone, one of the world’s foremost private equity investors. Our portfolio of projects in coal rich states, combined with Blackstone’s deep understanding of the power business both globally and in India, and their commitment to sharing knowledge and bringing global best practices to their portfolio companies will add immense value to our young and growing company. Together, we hope to form a long and mutually beneficial partnership.”
Akhil Gupta, Chairman and Managing Director of Blackstone Advisors India Private Limited, said: “Investing in the development of infrastructure in India has long been a theme of ours at Blackstone. India needs an investment of c.$200 bn in the power sector, of which c.$50 bn is required in equity, if the country is to continue its rapid economic growth.” Mr. Gupta also added that: “We believe that VISA Power’s core Chhattisgarh plant with its captive mine will have a very competitive cost of generation, and will be among the better positioned IPPs in the country. In addition, we have been impressed with the track record of VISA’s promoters and its management team in developing and executing greenfield projects.”
About VISA Power Limited and The VISA Group
VISA Power Limited: VISA Power is a power producer that has 2,520 MW in advanced stages of development, and a further pipeline of 5,280 MW in early stages of development. The Company’s core 1,200 MW Chhattisgarh plant has already secured all the required land, water allotment and other necessary approvals. Financial closure for the first 600 MW unit is complete, and for the second unit is in an advanced stage of completion. It has placed orders for BTG on BHEL and for BOP on Larsen & Toubro. The Company’s core plant has been allotted 22% of the coal from the Fatehpur East Coal Block. The Chhattisgarh plant is scheduled to be commissioned in 2013-14.
VISA Group Limited: The VISA Group is a INR 50 bn ($1.1 bn) revenue conglomerate with interests in minerals, metals and energy. The VISA Group was founded by Mr. Vishambhar Saran, an iron and steel and mining industry veteran with over 40 years of experience, including 25 years at Tata Steel, where he was Director of Raw Materials. The VISA Group’s principal activities include manufacturing and marketing of special and stainless steel and ferro chrome through publicly listed VISA Steel; international trading, shipping and logistics of bulk industrial raw materials and products such as steam coal, coking coal, iron ore, ferro chrome, pig iron, etc. through VISA Comtrade, and development and operation of power generation plants through VISA Power. Further information is available at http://www.visa-group.com.
About Blackstone
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on twitter @blackstone.
Contacts
The Blackstone Group, Public Affairs, New York. +1 212 583 5263 publicaffairsny@blackstone.com
VISA Power Limited, Devadeep Ghosh, Kolkata. +91 9331050404 devadeep.ghosh@visapower.net
IPAN Hill and Knowlton, Deepa Jayaraman, Mumbai. +91 9819808681, djayaraman@ipanhillandknowlton.com
Source: www.blackstone.com
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Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
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