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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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- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
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