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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
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