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