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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
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