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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, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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Showing 6031 to 6035 news of total 6871 |
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- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
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