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