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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring coal mines in South Africa and Australia, to secure coal supplies for its forthcoming power projects. The company is in the final stages of completing due diligence for a 50-million tonne coal linkage in Indonesia, according to a person close to the development.
JSW Energy has already identified a coal mine in South Africa and is in talks with Australian miners to tie-up fuel linkages for its proposed power plants and for JSW Steel. If the deals are finalised, JSW Energy would get additional coal linkage of 250 mt. Currently, JSW Energy has access to limited coal reserves in India and is largely dependant on imports. Besides making full-fledged acquisitions, JSW Energy is also in talks with the South African government for jointly developing coal mines.
When contacted, joint MD SS Rao said: “We are open to all available overseas options.” He declined to divulge further details as the company has filed a regulatory draft with the Sebi for its forthcoming IPO that aims to raise around Rs 3,000 crore. It has targeted to commission 3,140 mw by the end of 2010. “We may enter the capital market by the end of October , depending on the regulatory approval,” Mr Rao added.
JSW Energy will deploy the proceeds from IPO for developing identified generation and transmission projects, mining ventures and to service debt. It currently generates 560 mw of power from a plant in Karnataka and has 3,090 mw of generating capacity at various stages of implementation. The company has also entered into long-term power purchase agreements with the governments of Rajasthan and Maharashtra.
JSW Energy has plans to import 13 mt of coal for its upcoming power plants at Ratnagiri and Vijaynagar, Karnataka. The company has also secured coal supplies from a block in Orissa where it has a JV with Mahanadi Coalfields, where it would be able to procure around 90 mt in the long term.
Source: The Economic Times
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Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
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