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Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
 The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
Live Mint reported that, Nava Bharat Ventures Ltd will nearly double its power generation capacity in three years with two coal-fired plants of 150MW each as it increases its focus on the sector, attracted by high returns, a top company official said.
“The move is a part of our strategy to transform the company into a more stable power utility from an extremely volatile ferro alloys business model,” G.R.K. Prasad, director-finance and corporate affairs, said on Tuesday over the phone.
Nava Bharat expects to finalize plans for raising Rs1,386 crore (US$ 289,379,266.67) towards costs for the two plants—one at Paloncha and the other at Dharmavaram—in about a month, he said.
About 70% of this sum would be raised through debt and the balance through internal accruals.
As on 31 March, the company had reserves of Rs1,156 crore (US$ 241,376,607.8035) on a paid-up equity of Rs15.22 crore (US$ 3,178,621.37).
The company plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market—known as merchant power in industry terms.
Nava Bharat has a total power generation capacity of 228MW, including 94MW at Khargprasad in Orissa, 114MW at Paloncha in Khammam district and 20MW at Dharmavaram in the East Godavari district of Andhra Pradesh.
It is adding 64MW capacity at its Orissa plant at a cost of about Rs300 crore (US$ 62,656,013.98 ). The additional capacity is likely to go on stream by the fourth quarter of 2010-11.
India currently has a total power generation capacity of 150,000MW and had planned to add 78,577MW in the 11th Plan (2007-2012).
Union power secretary H.S. Brahma told Mint on 8 September that India would miss that target by almost a quarter due to a shortage of fuels such as coal and gas to fire the plants.
Nava Bharat sells most of the power generated at its plants in the open market, except for a small portion that it uses to produce ferro alloys. It expects to sell power at a base price of Rs4 (US$ 0.0835414) a unit and at an average Rs5 (US$ 0.104480) a unit over the next four to five years. The company now sells power to state-owned utilities at Rs3 (US$ 0.0626577) a unit.
In 2008-09, it had an average realization of Rs5.12 (US$ 0.106936 ) a unit, with open market trading fetching Rs5.87 (US$ 0.122588) a unit on average, said Amit Golchha, an analyst with Mumbai-based equity research firm Emkay Global Financial Services Ltd.
Nava Bharat “has been one of the significant beneficiaries of the merchant power boom in the country”, said Golchha. Emkay doesn’t have a rating on the company.
To take advantage of this, Nava Bharat increased merchant power production and significantly reduced captive consumption by reducing its production of ferro alloys due to low realizations.
The firm will lower production of ferro alloys to about 40,000 tonnes in 2009-10, using only about one-fifth of its total capacity of 190,000 tonnes a year, said Prasad.
As for the new power plants, it expects to run one of them on imported coal and the other on domestic coal. It needs about 1.3 million tonnes (mt) of imported coal a year to run a 150MW unit.
Nava Bharat acquired a 75% stake in a coal mine in Indonesia, with reserves of about 10 mt, in January for $18 million (around Rs87 crore).
“Another mine of the same company is estimated to fetch 10 more million tonnes in a year or so and we will invest $20 million to have 75% holding in it as well,” said Prasad.
The first coal mine in Indonesia is set to start production from January.
Nava Bharat shares gained 0.77% on Tuesday to close at Rs366.65 (US$ 7.66506 ) on the Bombay Stock Exchange. The benchmark Sensex index gained 0.9% to end at 16,886.43 points. (1 USD = 47.8838 INR )
Source: Live Mint
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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
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- Therma Luzon, Inc, Philippines
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- The University of Queensland
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- Interocean Group of Companies - India
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- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
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- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
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- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
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- Sojitz Corporation - Japan
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- MS Steel International - UAE
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- Jorong Barutama Greston.PT - Indonesia
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- Posco Energy - South Korea
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- CNBM International Corporation - China
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- Electricity Authority, New Zealand
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- Antam Resourcindo - Indonesia
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- Australian Commodity Traders Exchange
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- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
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- Independent Power Producers Association of India
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- Agrawal Coal Company - India
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- Sical Logistics Limited - India
- SMG Consultants - Indonesia
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- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
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- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
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- Indian Energy Exchange, India
- Thai Mozambique Logistica
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- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
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- Deloitte Consulting - India
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- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
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- SN Aboitiz Power Inc, Philippines
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- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
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- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
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- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
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