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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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Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
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- Power Finance Corporation Ltd., India
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- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
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- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
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- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
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- India Bulls Power Limited - India
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- Indonesian Coal Mining Association
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- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
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- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
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- Deloitte Consulting - India
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- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
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- Bangladesh Power Developement Board
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- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
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- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
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- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Anglo American - United Kingdom
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- Global Business Power Corporation, Philippines
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- Singapore Mercantile Exchange
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