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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, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
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- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
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- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
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- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
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- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
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- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
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- Xindia Steels Limited - India
- Planning Commission, India
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- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
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