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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
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