We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 5361 to 5365 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
|
| |
| |
|
