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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 $18 million or about Rs 76 crore and had total reserves of 105 million tonnes. Emco has a share of 40 million tonnes in the mine.
Source: DNA India
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
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