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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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Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Planning Commission, India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
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