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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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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
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