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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- The University of Queensland
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
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