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