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