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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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Showing 5991 to 5995 news of total 6871 |
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- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
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