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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
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