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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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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
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 Bha ...
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- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- The University of Queensland
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
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