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