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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
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- White Energy Company Limited
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- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
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- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
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- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
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- The University of Queensland
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- Georgia Ports Authority, United States
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- Bahari Cakrawala Sebuku - Indonesia
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- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
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- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
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- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
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- Ministry of Transport, Egypt
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- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
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- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
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- Electricity Authority, New Zealand
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- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
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- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- New Zealand Coal & Carbon
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- Commonwealth Bank - Australia
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- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
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- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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