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Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
 Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bhagalpur in Bihar.
“I can share with you that we are preparing for a 2,000 MW generation plant at Pirpainti near Bhagalpur. Land acquisition for the project has already begun,” company vice-chairman Sanjiv Goenka told reporters after the company’s Annual General Meeting (AGM).
“We began the initiative six months back by opening a new power company, Nalanda Power Company, which is a 100 percent subsidiary of CESC,” Goenka said.
CESC has also applied for coal mining rights for sourcing the required coal for this coal-fired merchant thermal power unit, said Goenka.
The project, spread over 400 acres, will be funded through a 70:30 debt-equity ratio. The equity would come through internal accruals.
“We are also upbeat over a 350 MW power distribution project for Patna City, where we have been short-listed along with Reliance Energy. If we finally get this, we think this is a fit case for improvement. Its current transmission and distribution (T&D) losses is 48 per cent and it reminds us of the days when we took over the erstwhile Calcutta Electric Supply Corporation,” he said.
CESC Ltd will add another 5000-6000 MW generation capacity over the next seven years of time with a total capital outlay of over Rs 24,000 crore.
Of this, the company has already conducted test synchronization for 250 MW Budge Budge-III and hopes to commission the unit by September, this year.
Goenka said, Budge Budge-III was being commissioned in 28 months from its financial closure, which is a record of its kind in the country.
The company on Friday announced a 11.7% rise in net profit to Rs 105 crore for the quarter ended June 2009, against a a Rs 94 crore net in the earlier corresponding period. Total income for the period was higher at Rs 820 crore (Rs 816 crore) – a marginal 0.5% rise.
“An 11.7% rise in net profit over a marginal rise in income has been due to overall improvement in performance parameters including lower transmission and distribution losses and rise in generation efficiencies,” Goenka said.
Interestingly, CESC managed to bring down expenditure by about 5.1% while profit from operations witnessed a sizeable 35% rise during the period.
The company will also set up new power plants at Dumka in Jharkhand and Talcher in Orissa.
Source: Jai Bihar
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Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
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