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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Planning Commission, India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Bhatia International Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
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