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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
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