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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, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Star Paper Mills Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
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