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