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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Planning Commission, India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
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