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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Australian Coal Association
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