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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- The University of Queensland
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
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