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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, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
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- PTC India Limited - India
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- Kaltim Prima Coal - Indonesia
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- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
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- Trasteel International SA, Italy
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- Standard Chartered Bank - UAE
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- Leighton Contractors Pty Ltd - Australia
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- Ceylon Electricity Board - Sri Lanka
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- Indian Energy Exchange, India
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- Chamber of Mines of South Africa
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- Indogreen Group - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- SMC Global Power, Philippines
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- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
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- Parliament of New Zealand
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- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
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- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Minerals Council of Australia
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- Directorate Of Revenue Intelligence - India
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- Petron Corporation, Philippines
- Electricity Authority, New Zealand
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- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
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- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
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- Orica Mining Services - Indonesia
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- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Thiess Contractors Indonesia
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- LBH Netherlands Bv - Netherlands
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