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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- The University of Queensland
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
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