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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- ASAPP Information Group - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
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- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
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- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
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