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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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Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- White Energy Company Limited
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
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