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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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- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Parliament of New Zealand
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
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