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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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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
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