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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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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- SMG Consultants - Indonesia
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- Wood Mackenzie - Singapore
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- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
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- CNBM International Corporation - China
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- The University of Queensland
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
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- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Simpson Spence & Young - Indonesia
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- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
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- Petron Corporation, Philippines
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- Power Finance Corporation Ltd., India
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- Australian Coal Association
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- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
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- Goldman Sachs - Singapore
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- Wilmar Investment Holdings
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- Pipit Mutiara Jaya. PT, Indonesia
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- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
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- South Luzon Thermal Energy Corporation
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- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
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- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
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- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
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- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
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- Grasim Industreis Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
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- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
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- Binh Thuan Hamico - Vietnam
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- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
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- Jaiprakash Power Ventures ltd
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- McConnell Dowell - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
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- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
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- TeaM Sual Corporation - Philippines
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- Sakthi Sugars Limited - India
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- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Eastern Energy - Thailand
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- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
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- PNOC Exploration Corporation - Philippines
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- Cement Manufacturers Association - India
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- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
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- Tamil Nadu electricity Board
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- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
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