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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
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