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Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
 DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Bangalore-based GMR Energy.
Rajesh Jain, chairman and managing director, Emco Ltd, told DNA: "The subsidiary has been sold in order to focus on bigger power generation plans instead of a smaller plant that the subsidiary was pursuing."
He did not reveal financial details of the transaction except saying "it will enhance shareholder value".
Emco Energy is building a 520 mw coal-based power plant in Warora near Chandrapur, Maharashtra. The financial closure for the project has been achieved and the first phase of 135 mw was likely to be operational by December 2009.
The first phase of the project is to be followed by the implementation of another unit of 135 mw to be operational by December 2010 and a final unit of 250 mw to be commissioned after one year of the second phase.
GMR Eneggy's CEO Raaj Kumar told DNA the acquisition is "in complete synergy with GMR's plan to develop thermal capacities in various parts of the country."
This is the first project for GMR in Maharashtra and the coal linkage for the acquired unit is said to be from the South Central Coalfields.
"We will start reviewing the status of the project and take it forward from there. We hope to complete the project in 30 months to make it up and running. The thumb rule for these project is about Rs 4-4.2 crore per megawatt and the cost of this project should also be in the same range," Kumar said.
Though the earlier plan of the Emco was to commission the first unit by December 2008, but the company failed to do so because of unfavourable conditions of the market, including pressures on re-negotiating contracts for equipment supply from a Chinese company from where it was sourcing the boiler-turbine-generator package.
Jain said by selling the subsidiary, the company has unlocked the value and it can now pursue larger opportunities in the power generation business.
"We will firm up our power generation plans in the next five-six months," he said.
The company has also retained its core power generation team which was working on the power plant and will be using its services to take its power plans forward.
Though the company is yet to finalise its power generation plans, almost a year back the company had signed an agreement with the Chhattisgarh government for setting up a 660 mw power plant in the state.
The Rs 2,400 crroe project was being planned with a Kolkata-based steel trading firm as its joint venture partner.
Jain had earlier told DNA the company was also looking at a coastal site in the country to set up a thermal power plant based on coal imported from Indonesia.
It holds 37.5% stake in a coal mine in the Kalimantan region of Indonesia and plans to start production around September.
The company bought the mine in 2007 for $18 million or about Rs 76 crore and had total reserves of 105 million tonnes. Emco has a share of 40 million tonnes in the mine.
Source: DNA India
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Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Australian Coal Association
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- Australian Commodity Traders Exchange
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- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Planning Commission, India
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- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
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- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- India Bulls Power Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
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- Central Electricity Authority - India
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- GMR Energy Limited - India
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- Samtan Co., Ltd - South Korea
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- Ministry of Mines - Canada
- MS Steel International - UAE
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
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- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
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- The University of Queensland
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- Parry Sugars Refinery, India
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- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
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- Bharathi Cement Corporation - India
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- Sarangani Energy Corporation, Philippines
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- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
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- Baramulti Group, Indonesia
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- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
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- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
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- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
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- The State Trading Corporation of India Ltd
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- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
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- White Energy Company Limited
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
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- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
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- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
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- Global Green Power PLC Corporation, Philippines
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- Makarim & Taira - Indonesia
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