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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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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
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- Wilmar Investment Holdings
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- Madhucon Powers Ltd - India
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- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
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