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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
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