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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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Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
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- Pendopo Energi Batubara - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
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- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
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- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Central Java Power - Indonesia
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- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
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- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Neyveli Lignite Corporation Ltd, - India
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- Ministry of Finance - Indonesia
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- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
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- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Anglo American - United Kingdom
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- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Antam Resourcindo - Indonesia
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- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
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- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
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