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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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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Deloitte Consulting - India
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