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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
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