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Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
 The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
Live Mint reported that, Nava Bharat Ventures Ltd will nearly double its power generation capacity in three years with two coal-fired plants of 150MW each as it increases its focus on the sector, attracted by high returns, a top company official said.
“The move is a part of our strategy to transform the company into a more stable power utility from an extremely volatile ferro alloys business model,” G.R.K. Prasad, director-finance and corporate affairs, said on Tuesday over the phone.
Nava Bharat expects to finalize plans for raising Rs1,386 crore (US$ 289,379,266.67) towards costs for the two plants—one at Paloncha and the other at Dharmavaram—in about a month, he said.
About 70% of this sum would be raised through debt and the balance through internal accruals.
As on 31 March, the company had reserves of Rs1,156 crore (US$ 241,376,607.8035) on a paid-up equity of Rs15.22 crore (US$ 3,178,621.37).
The company plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market—known as merchant power in industry terms.
Nava Bharat has a total power generation capacity of 228MW, including 94MW at Khargprasad in Orissa, 114MW at Paloncha in Khammam district and 20MW at Dharmavaram in the East Godavari district of Andhra Pradesh.
It is adding 64MW capacity at its Orissa plant at a cost of about Rs300 crore (US$ 62,656,013.98 ). The additional capacity is likely to go on stream by the fourth quarter of 2010-11.
India currently has a total power generation capacity of 150,000MW and had planned to add 78,577MW in the 11th Plan (2007-2012).
Union power secretary H.S. Brahma told Mint on 8 September that India would miss that target by almost a quarter due to a shortage of fuels such as coal and gas to fire the plants.
Nava Bharat sells most of the power generated at its plants in the open market, except for a small portion that it uses to produce ferro alloys. It expects to sell power at a base price of Rs4 (US$ 0.0835414) a unit and at an average Rs5 (US$ 0.104480) a unit over the next four to five years. The company now sells power to state-owned utilities at Rs3 (US$ 0.0626577) a unit.
In 2008-09, it had an average realization of Rs5.12 (US$ 0.106936 ) a unit, with open market trading fetching Rs5.87 (US$ 0.122588) a unit on average, said Amit Golchha, an analyst with Mumbai-based equity research firm Emkay Global Financial Services Ltd.
Nava Bharat “has been one of the significant beneficiaries of the merchant power boom in the country”, said Golchha. Emkay doesn’t have a rating on the company.
To take advantage of this, Nava Bharat increased merchant power production and significantly reduced captive consumption by reducing its production of ferro alloys due to low realizations.
The firm will lower production of ferro alloys to about 40,000 tonnes in 2009-10, using only about one-fifth of its total capacity of 190,000 tonnes a year, said Prasad.
As for the new power plants, it expects to run one of them on imported coal and the other on domestic coal. It needs about 1.3 million tonnes (mt) of imported coal a year to run a 150MW unit.
Nava Bharat acquired a 75% stake in a coal mine in Indonesia, with reserves of about 10 mt, in January for $18 million (around Rs87 crore).
“Another mine of the same company is estimated to fetch 10 more million tonnes in a year or so and we will invest $20 million to have 75% holding in it as well,” said Prasad.
The first coal mine in Indonesia is set to start production from January.
Nava Bharat shares gained 0.77% on Tuesday to close at Rs366.65 (US$ 7.66506 ) on the Bombay Stock Exchange. The benchmark Sensex index gained 0.9% to end at 16,886.43 points. (1 USD = 47.8838 INR )
Source: Live Mint
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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- PTC India Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
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