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Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
 COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agreement (CSPA) to acquire a 30 percent stake in PT Golden Energy Mines, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) on 11 August 2011.
This transaction is subject to the fulfillment of several conditions and is expected to close in calendar 2011, including but not limited to the approvals of the general meeting of the shareholders and the listing of GEMS’s shares in the Indonesian Stock Exchange, said Hermawan Tarjono, corporate secretary of DSSA, when interviewed by COALspot.com.
The acquisition value is in the range of USD 450 million to USD 550 million. The value can be anticipated only while nearing to the transaction closing. The transaction will be closed once the GEMS’s shares are listed in Indonesian stock exchange and the IPO which is expected around fourth quarter of the year. The 30% share purchase will be done by combination of strategic sale and IPO purchase which is under negotiation, according to Hermawan Tarjono.
Once the transaction is closed, GMR will participate in the GEMS’s Management as the GEMS is proliferating and becomes more professionally managed, he added.
GEMS, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), owns four producing and six non-producing thermal coal concessions in Sumatra, South Kalimantan and Central Kalimantan.
GEMS is targeting to produce 6-8 million tonnes of coal this year
GMR Infrastructure Ltd has already invested in a coal mine located in South Sumatra. The company brought PT Barasentosa Lestari (PT BSL) early 2009 for around US$ 80 million. The mine is estimate to have reserves of 100 million tonnes.
To contact the reporter responsible on this story - Efendi at efendi@coalspot.com
Translated by - WB
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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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- SMG Consultants - Indonesia
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- Eastern Energy - Thailand
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- Coal and Oil Company - UAE
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- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
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- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- The Treasury - Australian Government
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- Mintek Dendrill Indonesia
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- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
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- OPG Power Generation Pvt Ltd - India
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- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
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- Minerals Council of Australia
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- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
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- Chamber of Mines of South Africa
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- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
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- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
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- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
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- GAC Shipping (India) Pvt Ltd
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- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
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- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
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- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
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- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Parliament of New Zealand
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- CNBM International Corporation - China
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
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- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
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