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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
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