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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
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