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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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Showing 5911 to 5915 news of total 6871 |
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- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
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