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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 $650 million (over Rs 3,000 crore) to develop these.
GMR Energy also acquired 100 per cent ownership interest of Barasentosa Lestari coal mine in Indonesia by investing Rs 400 crore.
In the last two years, almost all power project developers like state-owned National Thermal Power Corporation (NTPC), Essar Power, Adani Power, JSW Energy, Indiabulls Power and Lanco Infratech have been searching for coal mines in Indonesia, to fuel some of their proposed power projects.
The Sajjan Jindal promoted JSW Energy is also planning to invest over Rs 4,500 crore to acquire coal mines abroad.
In the past, the Essar Group had acquired Dhabi Group’s telecom businesses in Uganda and Congo, Warid Telecom Uganda and Warid Congo. It also acquired a 50 per cent stake in Kenya Petroleum Refineries (KPRL) from Shell, BP and Chevron for an undisclosed sum.
Source: Business-Standard
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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