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Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18’s Sajeet Manghat reports.
As part of its mega acquisition plans, ETHL Communication, the group’s holding company for telecom services, will make equity investments of nearly USD 1 billion in its Mauritius subsidiary, which would invest these proceeds for various group acquisitions. ETHL Communication had raised Rs 4,500 crore via a debenture issue in January 2010.
The company will use proceeds for acquisitions of coal, steel, telecom and refining assets. As part of its acquisition targets, Essar will:
— Acquire Shell’s refining assets for up to USD 975 million.
— Acquire 78.84% stake in a South African coal mining company for USD 150 million.
— Acquire 100% in an Indonesian company having rights to thermal exploration coal blocks for USD 110-120 million excluding USD 40 million capex.
— Acquire 100% in a UK company with coal assets for USD 330 million. The company has coal assets in Australia.
— Acquire 100% in a company owning metallurgical coal in the US for USD 225 million.
— Acquire at least 51% in telecoms in Uganda and Congo for up to USD 200 million.
Additionally, Essar plans to invest an additional USD 1 billion in its US subsidiary Essar Steel Minnesota to set up a new iron ore pellet plant. The group will also invest up to USD 500 million in setting up steel services centres globally.
The Essar Group has either signed term sheets or advance negotiations for these assets.
Source: Money Control
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Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
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- Energy Link Ltd, New Zealand
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- Minerals Council of Australia
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- OPG Power Generation Pvt Ltd - India
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- Banpu Public Company Limited - Thailand
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- Posco Energy - South Korea
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Economic Council, Georgia
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- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
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- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
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- International Coal Ventures Pvt Ltd - India
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- Bharathi Cement Corporation - India
- Parliament of New Zealand
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- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
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- Petron Corporation, Philippines
- Anglo American - United Kingdom
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- Aboitiz Power Corporation - Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Kumho Petrochemical, South Korea
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- Georgia Ports Authority, United States
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- London Commodity Brokers - England
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- Uttam Galva Steels Limited - India
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- Intertek Mineral Services - Indonesia
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- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
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- Simpson Spence & Young - Indonesia
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- New Zealand Coal & Carbon
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- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
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- Therma Luzon, Inc, Philippines
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- ASAPP Information Group - India
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