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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
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