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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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- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- London Commodity Brokers - England
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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