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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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Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
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- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
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- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
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- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
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- SMG Consultants - Indonesia
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- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
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- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
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- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
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- Africa Commodities Group - South Africa
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- Renaissance Capital - South Africa
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- Vizag Seaport Private Limited - India
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- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
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- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
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- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
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