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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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Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
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- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
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