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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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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
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