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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
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