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Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
 NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fuel supplies for its coal-based plants. A proposal in this regard is likely to be moved before the company’s board soon.
The subsidiary would look at various options of securing coal supplies from overseas markets for meeting fuel needs of NTPC’s plants, a government official involved in the process said. Control over overseas fuel resources has become important in the wake of rising dependence on imported coal by NTPC.
When contacted, NTPC chairman and managing director RS Sharma said the company had built-in systems that has ensured long-term fuel security for all its existing and upcoming projects. “We would examine setting up of a separate entity for acquiring coal assets at an appropriate time,” Mr Sharma added.
NTPC, currently, has a separate division that looks at mining of coal and another strategic division that looks at acquiring coal assets abroad. This division itself could be carved into a focused arm for overseas acquisitions.
NTPC’s coal imports stood at eight million tonne in 2008-09. It is expected to reach the 12.5-million tonne mark in the current fiscal (2009-10) and rise further as the company’s coal-based generation capacity will go on stream in the coming years. It is estimated that the company may require at least 270 million tonne of coal annually by 2017, by when its total generation capacity is targeted to touch 75,000 mw from the current level of 30,644 mw. Of the
NTPC-owned capacity, 86% is coal-based, operated through 15 coal-based power stations. The need for a separate arm for acquisition of overseas coal operations has also been felt due to the poor track record of International Coal Ventures (ICVL). ICVL is a special purpose vehicle formed by PSUs to acquire coal properties abroad. NTPC is one of the equity partners in this venture.
The proposal for a separate entity for acquisition of coal assets comes at a time when NTPC is in the midst of launching its follow-on public offer. The FPO, which opens on February 3, would sell 5% of government equity in the company. The issue has received wide interest from global investors who have committed to participate in the market offer.
“The NTPC offer has received excellent response from overseas investors. We have met several of them in the US and London and all seem to be convinced about the ability of NTPC to push through power revolution in the country,” Mr Sharma said.
NTPC is growing strength to strength targeting to reach 75,000 mw capacity through an investment of Rs 2.25 lakh crore by 2017, recording a compounded annual growth rate (CAGR) of 13% per annum. The company plans to add 6,000 mw of new generation capacity every year.
Source: Economic Times
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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
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 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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