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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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Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
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- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- The University of Queensland
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
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