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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
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