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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
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