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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 $18 million or about Rs 76 crore and had total reserves of 105 million tonnes. Emco has a share of 40 million tonnes in the mine.
Source: DNA India
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Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
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