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