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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, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
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- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
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