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Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough International Singapore Pte. Ltd. With an amount of US$83.8 million, Indika Energy has now own 81.95% stake in Petrosea.
In a press release sent to TAMBANG Magazine on 6 July 2009, Indika Energy stated that the close of this transaction would enable it to leverage Petrosea's capabilities in engineering construction, mine operation and offshore logistics. Furthermore, it would strengthen Petrosea's foothold in the energy sector in the areas of resource, services, and infrastructure.
With its strong financials fundamental and market leadership, Indika Energy is confident to provide Petrosea with a stronger position to realise its growth target and create satisfactory return on equity.
Arsjad Rasjid, President Director of Indika Energy, explained the next step they are going to take immediately. "The immediate next steps for us is for the two management teams to map out our growth plans based on our strategic intent. We will draw on each other's strengths, capabilities and expertise to grow, as well as conduct a gap analysis to identify and close the gaps of our weaker areas to strengthen our positions," he said.
The acquisition of Petrosea has previously gained approval from Indika Energy's shareholders, as well as from the regulators. Furthermore, Indika Energy would make the mandatory tender offer for shares held by minority shareholders, pursuant to the prevailing laws and regulations.
Source: Tambang
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Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
Thursday, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
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- Coal and Oil Company - UAE
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- Medco Energi Mining Internasional
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- ICICI Bank Limited - India
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- Sakthi Sugars Limited - India
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- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
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- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
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- SMC Global Power, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
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- Siam City Cement PLC, Thailand
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- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
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- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
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- Kumho Petrochemical, South Korea
- MS Steel International - UAE
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- Energy Link Ltd, New Zealand
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- IEA Clean Coal Centre - UK
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- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
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- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
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- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Minerals Council of Australia
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- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- The University of Queensland
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- Electricity Generating Authority of Thailand
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