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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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Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
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- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
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