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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Planning Commission, India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
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