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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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Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
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- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
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