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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
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