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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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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- The University of Queensland
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
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