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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
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- McConnell Dowell - Australia
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- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
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- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
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- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Economic Council, Georgia
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- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Essar Steel Hazira Ltd - India
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- New Zealand Coal & Carbon
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- Oldendorff Carriers - Singapore
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- Orica Australia Pty. Ltd.
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- Sojitz Corporation - Japan
- MS Steel International - UAE
- Madhucon Powers Ltd - India
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- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
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- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
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- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
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- Renaissance Capital - South Africa
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- Straits Asia Resources Limited - Singapore
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- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
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- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
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- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
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- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
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- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
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