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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
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