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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
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