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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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Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Edison Trading Spa - Italy
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- Australian Coal Association
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
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- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
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- San Jose City I Power Corp, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
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- Goldman Sachs - Singapore
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- Ministry of Finance - Indonesia
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- Ministry of Transport, Egypt
- London Commodity Brokers - England
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- Price Waterhouse Coopers - Russia
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- PowerSource Philippines DevCo
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- Eastern Coal Council - USA
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- Jorong Barutama Greston.PT - Indonesia
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- Mintek Dendrill Indonesia
- Parliament of New Zealand
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- Romanian Commodities Exchange
- Independent Power Producers Association of India
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- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
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- The Treasury - Australian Government
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- PTC India Limited - India
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- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
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- Latin American Coal - Colombia
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- Miang Besar Coal Terminal - Indonesia
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- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
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- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
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- South Luzon Thermal Energy Corporation
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
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- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
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- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
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- The University of Queensland
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
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- Petrochimia International Co. Ltd.- Taiwan
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- Central Electricity Authority - India
- Indian Energy Exchange, India
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- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
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- Economic Council, Georgia
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