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