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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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Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- The University of Queensland
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Australian Coal Association
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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