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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
  Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power Limited (“VPL”, “VISA Power” or “the Company”), an independent power producer (“IPP”) whose core asset is a 1,200 MW captive-mine based, coal fired power plant in Chhattisgarh which is in an advanced stage of development. VISA Power has a pipeline of a further 6,600 MW under development, including a 1,320 MW coal-based super critical power plant in Orissa, which is also in an advanced stage of development. The Company also proposes to develop power projects in Madhya Pradesh, Jharkhand and Gujarat. VISA Power is part of the INR 50.0 Bn ($1.1 bn) VISA Group, which is a minerals, metals and energy conglomerate with business interests in steel, power, mining, international trading, shipping and logistics.
Commenting on the association, Vishambhar Saran, the Founder and Chairman of the VISA Group, and Chairman of VISA Power said: “The Power sector in India is going through an exciting phase of growth which is critical to sustain the country’s high levels of economic and industrial growth, and unlock India’s economic potential. We are glad that Blackstone shares our vision. Hopefully, together we can create a leading power company.”
Vikas Agarwal, the Managing Director of VISA Power added: “We are delighted to partner with Blackstone, one of the world’s foremost private equity investors. Our portfolio of projects in coal rich states, combined with Blackstone’s deep understanding of the power business both globally and in India, and their commitment to sharing knowledge and bringing global best practices to their portfolio companies will add immense value to our young and growing company. Together, we hope to form a long and mutually beneficial partnership.”
Akhil Gupta, Chairman and Managing Director of Blackstone Advisors India Private Limited, said: “Investing in the development of infrastructure in India has long been a theme of ours at Blackstone. India needs an investment of c.$200 bn in the power sector, of which c.$50 bn is required in equity, if the country is to continue its rapid economic growth.” Mr. Gupta also added that: “We believe that VISA Power’s core Chhattisgarh plant with its captive mine will have a very competitive cost of generation, and will be among the better positioned IPPs in the country. In addition, we have been impressed with the track record of VISA’s promoters and its management team in developing and executing greenfield projects.”
About VISA Power Limited and The VISA Group
VISA Power Limited: VISA Power is a power producer that has 2,520 MW in advanced stages of development, and a further pipeline of 5,280 MW in early stages of development. The Company’s core 1,200 MW Chhattisgarh plant has already secured all the required land, water allotment and other necessary approvals. Financial closure for the first 600 MW unit is complete, and for the second unit is in an advanced stage of completion. It has placed orders for BTG on BHEL and for BOP on Larsen & Toubro. The Company’s core plant has been allotted 22% of the coal from the Fatehpur East Coal Block. The Chhattisgarh plant is scheduled to be commissioned in 2013-14.
VISA Group Limited: The VISA Group is a INR 50 bn ($1.1 bn) revenue conglomerate with interests in minerals, metals and energy. The VISA Group was founded by Mr. Vishambhar Saran, an iron and steel and mining industry veteran with over 40 years of experience, including 25 years at Tata Steel, where he was Director of Raw Materials. The VISA Group’s principal activities include manufacturing and marketing of special and stainless steel and ferro chrome through publicly listed VISA Steel; international trading, shipping and logistics of bulk industrial raw materials and products such as steam coal, coking coal, iron ore, ferro chrome, pig iron, etc. through VISA Comtrade, and development and operation of power generation plants through VISA Power. Further information is available at http://www.visa-group.com.
About Blackstone
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on twitter @blackstone.
Contacts
The Blackstone Group, Public Affairs, New York. +1 212 583 5263 publicaffairsny@blackstone.com
VISA Power Limited, Devadeep Ghosh, Kolkata. +91 9331050404 devadeep.ghosh@visapower.net
IPAN Hill and Knowlton, Deepa Jayaraman, Mumbai. +91 9819808681, djayaraman@ipanhillandknowlton.com
Source: www.blackstone.com
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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Planning Commission, India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
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