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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, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
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Showing 5926 to 5930 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
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