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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Australian Coal Association
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
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