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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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Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
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