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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 $18 million or about Rs 76 crore and had total reserves of 105 million tonnes. Emco has a share of 40 million tonnes in the mine.
Source: DNA India
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
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