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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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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
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