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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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Showing 5971 to 5975 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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