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