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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- McConnell Dowell - Australia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
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- Mjunction Services Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
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- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
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- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
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- Cement Manufacturers Association - India
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- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
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- Eastern Energy - Thailand
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
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- ICICI Bank Limited - India
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- Economic Council, Georgia
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- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
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- The Treasury - Australian Government
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
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- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Minerals Council of Australia
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- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
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- The State Trading Corporation of India Ltd
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- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
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- Mercator Lines Limited - India
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- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
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- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
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- SMG Consultants - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
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- Iligan Light & Power Inc, Philippines
- The University of Queensland
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