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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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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
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