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Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
 Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal has been established.
MGL gets access to good grade coal with a coal to OB ratio of 1:3.5, having a very low sulphur content of mere 0.14%.
MGL becomes one of the very few Indian companies to be able to take over the prestigious Coal Contract of Works (CCOW) awarded by the Government of Indonesia.
MIEL through MGL will use this produce for its planned coast based Power Projects.
Plans to use coal for captive needs and also for selling the surplus in the open market which will be a long term source of revenue for the Company.
COALspot.com - Monnet Ispat & Energy Limited (MIEL) through its 100 % owned subsidiary Monnet Global Limited (MGL), completed the acquisition of Indonesian Coal Company – PT Sarwa Sembada Karya Bumi, at US$ 24 million in the Jambi province of Sumatra, Indonesia, according to the news posted in website of Monnet Ispat & Energy Limited
The news published in website further said that, the acquisition gives MGL, access to one of the largest Thermal Coal Mine spreading over an area of 25,000 hectares. Presently, only 1500 hectares out of the entire 25,000 hectares have been explored and the company has been able to establish 65 million tonne of coal reserves in the mine and expects these reserves to go up substantially after completing exploration of the total land area.
The prestigious Coal Contract of Works (CCOW) also called (Perjanjian Karya Pengusahaan Pertambangan Batubara) PKP2B, which was awarded, to PT Sarwa, by the Government of Indonesia, subsequent to the acquisition gets transferred to MGL, making it amongst the very few Indian companies to have CCOW.
Commenting on the successful conclusion of the agreement, Mr. Sandeep Jajodia, Executive Vice Chairman & Managing Director, Monnet Group said, “The acquisition of the Indonesian Coal Company PT Sarwa is of strategic importance for the Group as the logistic of the mine is excellent and being located in Sumatra, the shipping cost and low transit time to India will make the coal very cost effective. It will also provide, low cost fuel for our planned coast based Power Projects. We plan to mine more coal than required for our captive needs, for selling in the open market which will be a long term source of revenue, as there seems to be good potential for the reserves to go up substantially. The worldwide coal markets are expected to do very well in the coming years and especially India and China would remain strong buyers.”
“Keeping in mind the high coal prices, the valuation of such coal assets have gone up many folds in the recent times. We have been able to close the deal at a very low value as the agreement with PT Sarwa was initially executed in 2008 however the process and regulatory procedures for actual transfer took a long time to finally close the deal.” Mr. Jajodia further shared.
About Monnet Group:
Monnet Global Limited (MGL): MGL a wholly owned subsidiary of Monnet Ispat & Energy Limited having offices in Dubai, Jakarta and Johannesburg (South Africa), does all the global acquisitions and mergers for the group.
Monnet Ispat & Energy Limited (MIEL): MIEL is promoted by Mr. Sandeep Jajodia. As the second largest coal based sponge iron producer in India and an integrated steel player, the Group has an added advantage of operating largest underground coal mine in the country besides mining other raw material for captive use.
MIEL has manufacturing facilities in Raipur & Raigarh in Chhattisgarh and is currently implementing its ambitious 1.5 MTPA integrated steel plant at Raigarh at a cost of US$ 1 billion, Chhattisgarh to produce plates, structural and rebar’s.
Group’s future plans also includes investing another US$ 3.2 billion in installing power capacity of 3000 MW of which 1050 MW of IPP backed with captive coal mine is fast coming up in Angul, Orissa and would emerge as amongst the lowest cost generating units in the world.
MIEL, a leading enterprise in its field, is making rapid expansion to leverage its competitive edge in advantage by further integrating operations both backwards and forwards and moving up the value chain.
Monnet Power Company Limited (MPCL): MPCL is currently executing a 1050 MW IPP in the state of Orissa backed by captive coal mines. The project consists of 2 units of 525 MW to be supplied by BHEL. The project has all its statutory approvals & clearances in place and has achieved financial closure. Both of these 525 MW each unit is expected to get commissioned between September and December 2012. The Company is now in the process of developing an additional 2000 MW which is expected to come up by June 2014.
Further information is available at http://www.monnetgroup.com
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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
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