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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, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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Showing 5896 to 5900 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Minerals Council of Australia
- Agrawal Coal Company - India
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