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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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Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
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- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
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