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