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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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Showing 5906 to 5910 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
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