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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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Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
...
Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
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- South Luzon Thermal Energy Corporation
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- London Commodity Brokers - England
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- Sojitz Corporation - Japan
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- Kapuas Tunggal Persada - Indonesia
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- Africa Commodities Group - South Africa
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- Bangladesh Power Developement Board
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- IHS Mccloskey Coal Group - USA
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- Baramulti Group, Indonesia
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- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
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- Sical Logistics Limited - India
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- White Energy Company Limited
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- Economic Council, Georgia
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- Thiess Contractors Indonesia
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- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
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- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
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- Krishnapatnam Port Company Ltd. - India
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- Tamil Nadu electricity Board
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- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
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- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
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- PTC India Limited - India
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- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
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