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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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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Dalmia Cement Bharat India
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- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
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- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
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- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
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- New Zealand Coal & Carbon
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- Jaiprakash Power Ventures ltd
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- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Agrawal Coal Company - India
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- Thiess Contractors Indonesia
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- Tata Chemicals Ltd - India
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- Uttam Galva Steels Limited - India
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- Rio Tinto Coal - Australia
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- Indonesian Coal Mining Association
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- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
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- Kalimantan Lumbung Energi - Indonesia
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- Videocon Industries ltd - India
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- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
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- Rashtriya Ispat Nigam Limited - India
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- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- White Energy Company Limited
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- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Semirara Mining Corp, Philippines
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- Electricity Authority, New Zealand
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- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
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- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
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- The University of Queensland
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- Independent Power Producers Association of India
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- PTC India Limited - India
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- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
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