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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 $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment firm Denham Capital Management,
Sources with knowledge of the developments said Essar’s first major coal mine acquisition abroad would provide coking coal and thermal coal linkages for its steel mills in the US and for a power project under construction in India.
Trinity has mines in Kentucky and West Virginia in the US, with reserves of 200 million tonnes and an annual output of about 7 million tonnes.
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“Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal”
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Sources said negotiations were at an advanced stage and the deal was likely to be closed within two weeks. An Essar Group spokesperson declined to comment.
Essar has a steel plant at Algoma in Canada, acquired in 2007 for $1.63 billion. It also has a steel mill in Minnesota in the US. Essar is expanding capacity at Minnesota Steel in two phases, with a 4.1 million tonnes per annum (mtpa) pellet plant and another 1.5 mtpa steel plant, which is expected to be completed by 2012 and 2015, respectively. It is also planning to expand capacity of Algoma Steel to 5 mtpa from 4 mtpa, said sources.
Essar Power, which is implementing close to 4,650 Mw of power projects, has a 1,200-Mw power project coming up in Gujarat, dependent on imported coal. It is setting up a Rs 4,800-crore power project at Salaya near Jamnagar in Gujarat and the imported coal-based project is slated for completion by 2011.
All major power producers are scouting for coal mines abroad, mainly in Indonesia, South Africa, Australia and even in the distant US market.
Leading power sector companies such as Tata Power, Reliance Power and GMR Energy have already acquired coal mines in Indonesia. In August 2007, Tata Power acquired a 30 per cent stake in Indonesian energy giant PT Bumi Resources by paying close to $1.3 billion. Anil Dhirubhai Ambani Group firm Reliance Power also acquired three coal mines in Indonesia, with plans to spend over $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
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Showing 5886 to 5890 news of total 6871 |
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- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Planning Commission, India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
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