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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
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