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