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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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Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
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- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
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