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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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Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
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- Mintek Dendrill Indonesia
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- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
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- Jaiprakash Power Ventures ltd
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- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
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- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
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- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
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- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
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- Kumho Petrochemical, South Korea
- Australian Coal Association
- Parliament of New Zealand
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- White Energy Company Limited
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- Petron Corporation, Philippines
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- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
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- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
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- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
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- Tata Chemicals Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
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