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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, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Karaikal Port Pvt Ltd - India
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- Goldman Sachs - Singapore
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- Ministry of Mines - Canada
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- Global Coal Blending Company Limited - Australia
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- Gujarat Mineral Development Corp Ltd - India
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- Chamber of Mines of South Africa
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- International Coal Ventures Pvt Ltd - India
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- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
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- IHS Mccloskey Coal Group - USA
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- Samtan Co., Ltd - South Korea
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- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- The University of Queensland
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
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- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
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- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
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- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
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- PTC India Limited - India
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- San Jose City I Power Corp, Philippines
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- European Bulk Services B.V. - Netherlands
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- Interocean Group of Companies - India
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- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
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- SMC Global Power, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- SMG Consultants - Indonesia
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- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
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- Australian Coal Association
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