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Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 million, equivalent to Rs 324.30 crore, for acquiring five Indonesian coal mines, namely PT Kaltim Global, PT Elelktra Global, PT Pacific Global Utama, PT Kertawira and PT Dongin. Out of the total, USD 53.08 million will be infused by PTC as equity for obtaining financial closure for the five projects, while a sum of USD 15.40 million has been earmarked as capital expenditure.
In order to avoid direct risk to its own financials, PTC is likely to soon float an overseas subsidiary, or special purpose vehicle (SPV), in Singapore, to make this investment. This subsidiary will acquire the PT Kertawira Sera Lestari and PT Dongin outright, as per the terms and conditions of the term sheet, signed by PTC with the respective mine-owners. Further, the subsidiary will participate in the equity of the remaining three coal mines as a 50:50 joint venture partner. The subsidiary firm will also explore further investment opportunities and undertake other imported coal-related businesses, including trade of foreign coal.
Pertinently, PTC plans to buy coal mines in mineral rich Indonesia mainly to supply fuel to domestic power projects, with which PTC has power purchase agreements, while the balance coal will be retained by the firm for sale to other coal-consuming entities. The firm is already supplying imported coal to various utilities, apart from facilitating development of power generation in the country by mobilizing funds to the project developers in the form of equity in projects through its subsidiary, PTC India Financial Services. The utility has also joined a global consortium led by Morgan Stanley Infrastructure Partners, for funding Indian power projects of Asian Genco, and has already launched the Indian Energy Infrastructure Fund, in joint venture with the London-based Ashmore Group Plc, to support its power project funding endeavor.
Source: Prospering Indian Power Sector
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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
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