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Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business and in its proposed distribution business. The company has shortlisted three companies for the proposed partnership in transmission.
For its expansion plan, the company is planning to acquire coal mines abroad. It will invest Rs 14,048 crore over five years in power generation, transmission and mining. It plans to raise around Rs 3,000 crore through a public offer (IPO).
Pramod Menon, chief financial officer, JSW Energy, said, “The company’s main business is production, and going forward, we would like to become an integrated power company.”
JSW Energy has floated Jaigad Power Transco, a joint venture company floated with Maharashtra State Power Transmission. JSW Energy holds 74 per cent stake in the company, which bagged a Rs 580-crore order for a 169 km transmission line. To strengthen this business, the company plans to bring in a technology partner. “We are talking to three foreign companies for a potential technology tie-up. We will not dilute any stake and the partnership would be on a project-to-project basis.” The company is also planning to foray into power distribution business through the same model, said Menon.
On the power production business, he said the company planned to invest Rs 14,048 crore over five years. Of this, Rs 9,500 crore will be invested before March 2011. He said the company commissioned a 600 Mw power plant in Vijayanagar, Karnataka, and a 135 Mw plant in Barmer, Rajasthan. With the recent addition of 735 Mw, the company now has 995 Mw generating capacity.
JSW Energy’s power generation capacity is likely to go up to 3,140 Mw by April 2011 and 11,390 Mw by September 2015. The new plants will be in Karnataka, West Bengal, Jharkhand, Rajasthan, Maharashtra, Himachal Pradesh and Chhattisgarh.
On acquisition of coal mines, Menon said the company required six million tonnes of coal per annum. “To meet this demand, we are exploring the possibility of acquiring coal mines at Australia and Indonesia.” Due diligence is in process,” added Menon.
Source: Business-Standard
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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
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