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Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
 Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as December to help fund spending on roads and education and rein in the fiscal deficit.
“We will do it by December or January,” Power Secretary H.S. Brahma said by telephone in New Delhi yesterday, after the Cabinet approved the plan to sell the stake in the state-owned utility. “We will take a decision on the timing of the sale in a few days.” Brahma is the top bureaucrat in the power ministry.
Prime Minister Manmohan Singh is taking advantage of an 80 percent gain in India’s benchmark stock index this year to sell stakes in state-owned companies. The government has raised about 42 billion rupees ($913 million) since April 1 by selling shares in NHPC Ltd. and Oil India Ltd. The NTPC sale may yield 88 billion rupees, according to Bloomberg calculations based on its Oct. 17 closing price that valued the New Delhi-based utility at $38 billion.
“This should help a little in narrowing India’s fiscal deficit,” Viswanathan Vasudevan, a Singapore-based fund manager at Aquarius Investment Advisors Pte., said by telephone today. “The government needs to continue with its theme of disinvestment since the deficit is quite large.”
India plans to borrow a record 4.41 trillion rupees in the year ending March 31, widening the budget deficit to a 16-year high of 6.8 percent of gross domestic product, from 6 percent in the previous year.
NTPC has climbed 18 percent in Mumbai trading this year, lagging behind the Bombay Stock Exchange’s Sensitive Index and a 90 percent surge in rival Tata Power Co. The stock fell 0.6 percent to 213.60 rupees on Oct. 17 when the market traded in a special truncated session on Diwali, the festival of lights that marks the start of the Hindu new year.
Government Equity
The government’s equity in NTPC will fall to 84.5 percent after the sale from 89.5 percent. Part of the shares will be offered to NTPC employees, Commerce and Industry Minister Anand Sharma said yesterday, without elaborating on the timing.
“It is expected that the market capitalization of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms,” the government said in a statement after a meeting of the federal cabinet in New Delhi yesterday.
NTPC plans to spend 177 billion rupees to increase its generation capacity by about 10 percent in the financial year ending March 31. The utility said last month it was evaluating an offer to buy a South African coal mine and is considering a coal- mine purchase in Indonesia to help secure fuel supplies.
The government sold a 5 percent holding in NHPC to the public for 20 billion rupees in August, while state-run refiners bought 10 percent in Oil India from the state for about 22 billion rupees the following month.
India should aim to raise as much as 250 billion rupees a year from asset sales, the finance ministry said in a July 2 report. Proceeds from the sale of the government’s stake in state-owned companies go to a separate fund meant for social- sector spending, including job creation and improving health care and education.
Source:Bloomberg
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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Indian Energy Exchange, India
- Posco Energy - South Korea
- PTC India Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
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