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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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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
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