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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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- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
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