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Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
 State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining assets in Mozambique, Indonesia and Australia, as the new government firms up plans to meet the growing energy demand.
While NTPC is focussing on Mozambique and Indonesia, Coal India is all set to sign a joint venture agreement with the Mozambique government and has also shortlisted mining firms in Australia and Indonesia, according to top executives from the two companies.
Speaking to ET, Coal India chairman Partha S Bhattacharyya said: “We hope to finalise our overseas expansion deals in Mozambique, Australia and Indonesia in the next three months. Coal India, which produced over 400 million tonne of coal in the previous fiscal, plans to raise its output to 520 million tonne by 2012 and 664 million tonne in the next five years. Its output past year accounted for 85% of the nation’s production. “From overseas assets, we aim to add 50 million tonne per annum by 2020,” added Mr Bhattacharyya.
In order to meet the country’s growing energy demands, NTPC and Coal India (CIL) have been trying to acquire overseas mining assets. Coal India’s overseas venture arm Coal Videsh and its joint venture unit International Coal Ventures are used for the purpose of acquisitions abroad.
International Coal Ventures is a special purpose vehicle (SPV) created by Coal India, SAIL, NTPC, National Mineral Development Corp and others to scout for coal assets abroad. Coal India and SAIL are major stake holders in the SPV.
According to NTPC chairman RS Sharma, “We will finalise merchant bankers for our proposed acquisitions next month.” NTPC has identified two mining assets in Indonesia and two in Mozambique for which due diligence process is in progress. The public sector utility would require about 150 million tonne of coal for its power units, which is mainly supplied by CIL.
Coal India is progressing fast also. “We have received the drafts of contract and the JV agreement from the Mozambique government,” said Mr Bhattacharyya. “We’ll go ahead after examining these documents,” he added. The company’s ventures in Australia and Indonesia are in advanced stages, he said, adding that the company has shortlisted few mining firms in both the countries.”
India’s largest coal producer has also been granted two exploratory coal mining blocks in Mozambique, with reserves of 1 billion tonne. “This project would require a joint investment of around Rs 2,000 crore per 10 million tonne exploration over five years. In this, CIL’s investment share would be in accordance with the nature of JV — it could be in order of 3:1 or 1:1,” said Mr Bhattacharyya.
Further, the coal ministry has proposals to raise the overseas investment limit of CIL beyond Rs 1,000 crore for asset acquisition. The proposal would be soon placed before the cabinet committee, minister of state for coal Sriprakash Jaiswal has said.
Being a navratna company, which has to be listed by October 2011, it could invest Rs 1,000 crore for overseas assets.
Source: Economic Times (http://economictimes.indiatimes.com/News-by-Industry/NTPC-Coal-India-to-buy-mining-assets/articleshow/4694481.cms)
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Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
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- Maharashtra Electricity Regulatory Commission - India
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- Wood Mackenzie - Singapore
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- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
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- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
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- Dalmia Cement Bharat India
- London Commodity Brokers - England
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- Bhatia International Limited - India
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- Mercuria Energy - Indonesia
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- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
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- Thai Mozambique Logistica
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- Posco Energy - South Korea
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- VISA Power Limited - India
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- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
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- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
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- Planning Commission, India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
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- Salva Resources Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
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- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
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- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Minerals Council of Australia
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- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
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- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
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