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Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
 Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as December to help fund spending on roads and education and rein in the fiscal deficit.
“We will do it by December or January,” Power Secretary H.S. Brahma said by telephone in New Delhi yesterday, after the Cabinet approved the plan to sell the stake in the state-owned utility. “We will take a decision on the timing of the sale in a few days.” Brahma is the top bureaucrat in the power ministry.
Prime Minister Manmohan Singh is taking advantage of an 80 percent gain in India’s benchmark stock index this year to sell stakes in state-owned companies. The government has raised about 42 billion rupees ($913 million) since April 1 by selling shares in NHPC Ltd. and Oil India Ltd. The NTPC sale may yield 88 billion rupees, according to Bloomberg calculations based on its Oct. 17 closing price that valued the New Delhi-based utility at $38 billion.
“This should help a little in narrowing India’s fiscal deficit,” Viswanathan Vasudevan, a Singapore-based fund manager at Aquarius Investment Advisors Pte., said by telephone today. “The government needs to continue with its theme of disinvestment since the deficit is quite large.”
India plans to borrow a record 4.41 trillion rupees in the year ending March 31, widening the budget deficit to a 16-year high of 6.8 percent of gross domestic product, from 6 percent in the previous year.
NTPC has climbed 18 percent in Mumbai trading this year, lagging behind the Bombay Stock Exchange’s Sensitive Index and a 90 percent surge in rival Tata Power Co. The stock fell 0.6 percent to 213.60 rupees on Oct. 17 when the market traded in a special truncated session on Diwali, the festival of lights that marks the start of the Hindu new year.
Government Equity
The government’s equity in NTPC will fall to 84.5 percent after the sale from 89.5 percent. Part of the shares will be offered to NTPC employees, Commerce and Industry Minister Anand Sharma said yesterday, without elaborating on the timing.
“It is expected that the market capitalization of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms,” the government said in a statement after a meeting of the federal cabinet in New Delhi yesterday.
NTPC plans to spend 177 billion rupees to increase its generation capacity by about 10 percent in the financial year ending March 31. The utility said last month it was evaluating an offer to buy a South African coal mine and is considering a coal- mine purchase in Indonesia to help secure fuel supplies.
The government sold a 5 percent holding in NHPC to the public for 20 billion rupees in August, while state-run refiners bought 10 percent in Oil India from the state for about 22 billion rupees the following month.
India should aim to raise as much as 250 billion rupees a year from asset sales, the finance ministry said in a July 2 report. Proceeds from the sale of the government’s stake in state-owned companies go to a separate fund meant for social- sector spending, including job creation and improving health care and education.
Source:Bloomberg
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
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