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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
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