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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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Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
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- Leighton Contractors Pty Ltd - Australia
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- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
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- Medco Energi Mining Internasional
- The Treasury - Australian Government
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- CNBM International Corporation - China
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- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
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- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- MS Steel International - UAE
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
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- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
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- ASAPP Information Group - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
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- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
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- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
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