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