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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, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
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