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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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- ASAPP Information Group - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- White Energy Company Limited
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
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