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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
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