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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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Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
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- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
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