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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
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