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Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
 DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Bangalore-based GMR Energy.
Rajesh Jain, chairman and managing director, Emco Ltd, told DNA: "The subsidiary has been sold in order to focus on bigger power generation plans instead of a smaller plant that the subsidiary was pursuing."
He did not reveal financial details of the transaction except saying "it will enhance shareholder value".
Emco Energy is building a 520 mw coal-based power plant in Warora near Chandrapur, Maharashtra. The financial closure for the project has been achieved and the first phase of 135 mw was likely to be operational by December 2009.
The first phase of the project is to be followed by the implementation of another unit of 135 mw to be operational by December 2010 and a final unit of 250 mw to be commissioned after one year of the second phase.
GMR Eneggy's CEO Raaj Kumar told DNA the acquisition is "in complete synergy with GMR's plan to develop thermal capacities in various parts of the country."
This is the first project for GMR in Maharashtra and the coal linkage for the acquired unit is said to be from the South Central Coalfields.
"We will start reviewing the status of the project and take it forward from there. We hope to complete the project in 30 months to make it up and running. The thumb rule for these project is about Rs 4-4.2 crore per megawatt and the cost of this project should also be in the same range," Kumar said.
Though the earlier plan of the Emco was to commission the first unit by December 2008, but the company failed to do so because of unfavourable conditions of the market, including pressures on re-negotiating contracts for equipment supply from a Chinese company from where it was sourcing the boiler-turbine-generator package.
Jain said by selling the subsidiary, the company has unlocked the value and it can now pursue larger opportunities in the power generation business.
"We will firm up our power generation plans in the next five-six months," he said.
The company has also retained its core power generation team which was working on the power plant and will be using its services to take its power plans forward.
Though the company is yet to finalise its power generation plans, almost a year back the company had signed an agreement with the Chhattisgarh government for setting up a 660 mw power plant in the state.
The Rs 2,400 crroe project was being planned with a Kolkata-based steel trading firm as its joint venture partner.
Jain had earlier told DNA the company was also looking at a coastal site in the country to set up a thermal power plant based on coal imported from Indonesia.
It holds 37.5% stake in a coal mine in the Kalimantan region of Indonesia and plans to start production around September.
The company bought the mine in 2007 for $18 million or about Rs 76 crore and had total reserves of 105 million tonnes. Emco has a share of 40 million tonnes in the mine.
Source: DNA India
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Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
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- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
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