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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, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Georgia Ports Authority, United States
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