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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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Showing 5996 to 6000 news of total 6871 |
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- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
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